Land Value Tax

A land value tax is usually a levy on unimproved value connected with land only. The tax reclaims typically created wealth to use for common requirements. It is the ad valorem with land that, not like typical property fees, disregards the value of buildings, personal property and also other improvements. The economic efficiency of the land value tax has been established knowledge since Adam Smith, Quite a few economists since Adam Jones and David Ricardo have advocated for area value tax, but the strategy is most famously linked to the American political economist Henry George.