Basically I think the Land Value Tax should apply to any land that isn’t under either a primary residence, or isn’t under a building that solely provides primary residences for others. So that way developing housing is not discouraged, and people aren’t paying rent into perpetuity to the gov for their actual home. In that way, yes, second and vacation homes would be taxed, But the thing to understand is that an LVT is different from standard property tax, in that you don’t charged more tax depending on what is built on the land, you are only assessed based the value of the unimproved land.
And personal properties over the first $10 million or so.
Basically I think the Land Value Tax should apply to any land that isn’t under either a primary residence, or isn’t under a building that solely provides primary residences for others. So that way developing housing is not discouraged, and people aren’t paying rent into perpetuity to the gov for their actual home. In that way, yes, second and vacation homes would be taxed, But the thing to understand is that an LVT is different from standard property tax, in that you don’t charged more tax depending on what is built on the land, you are only assessed based the value of the unimproved land.