  a land value tax (or site valuation tax) is a levy on the unimproved value of land only. it is an ad valorem tax on land that disregards the value of buildings, personal property and other improvements. a land value tax (lvt) is different from other property taxes, which are taxes on the whole value of real estate: the combination of land, buildings, and improvements to the site. although the economic efficiency of a land value tax has been established knowledge since adam smith, it was perhaps most famously promoted by henry george. in his best selling work progress and poverty (1879), george argued that when the site or location value of land was improved by public works, its economic rent was the most logical source of public revenue. the often cited passage is titled "the unbound savannah." a land value tax is also a progressive tax, in that it would be paid primarily by the wealthy, and would reduce economic inequality. the philosophy that land rents extracted from nature should be captured by society and used to replace taxes is often now known as georgism. land value taxation is currently implemented throughout denmark,land valuation in denmark (1903-1945) by k.j. kristensen estonia, russia, hong kong, singapore, and taiwan. the tax has been applied in subregions of australia (new south wales), mexico (mexicali), and the united states (pennsylvania). land value taxation is known as site-value tax, lvt, split rate tax, and site-value rating. ==economic effects== the value of the land (and many other macro-economic quantities too) can be expressed using two independent concepts: * the value, or, strictly speaking, the price, of a partic
Land_value_taxation Tax_reform