Property tax is assessed based upon on the value of the property, which is often in large part determined by the value of the land it is built upon. Same house

Property tax is assessed based upon on the value of the property, which is often in large part determined by the value of the land it is built upon. Same house in SF and the Midwest - the Midwest one is 5x cheaper. ~80% of the value of the house is the value of the land. LVT is a tax that is intended to tax 100% of the value of the land and 0% of the value of the property built upon it, so in theory the house in the midwest would cost the same as the one in SF, but the tax you'd pay to live in SF would be higher. Property tax would discourage this type of behavior (which is good). LVT would eliminate it entirely.