Land Value Tax
A TAX on big gardens is set to be piloted in Scotland as part of a deal to overhaul local government finance, Scotland on Sunday can reveal.
The Land Value Tax (LVT), under which homeowners are charged on the size and location of the land they own and not just the building, will be considered as part of a deal to replace Council Tax.
Valuers base their calculations on the assumption that the land is put to its "highest and best use". This means that owners of derelict land and homeowners with gardens which could be developed are charged accordingly.
Mark Wadsworth will be pleased, him and that other greenie Tim Worstall - " Everyone, poor and rich alike, business or individual, farmer and government, should pay a levy on the unimproved value ofthe land they occupy or work. Forit is precisely the society around that land that gives it value, whether it be by the infrastructure of a city or whatever.
This is all old Henry George’s idea (and he wanted it to be the only tax) but the important point is that it is not the structure or the improvements that are taxed, but the land itself."