Property taxes have to be set high enough to fund services: Voters want more services, they pay more property taxes. The policy goal is delivering services the

Property taxes have to be set high enough to fund services: Voters want more services, they pay more property taxes. The policy goal is delivering services the voters want to households and businesses. LVT is designed to achieve a different policy goal: Maximize the efficiency of land use. So its rates have to be set to achieve that goal and, for example, force grandma to move out of that condo in a newly revitalized downtown so a young tech kid who can pay more & benefit from it more can move in.