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This concept is huge in the USA where it has its biggest following. Look up Henry George who added to this movement. Winston Churchill, Tolstoy, Einstein, etc. were all massive fans.
Smart people for their time, but they are not of the 21st century. They lived in a very different world than we have today. I wouldn't call it a huge following in the US when these guys are all long dead.
And how does one determine the value of a piece of land? Is the land under the pent-house apartment building worth more than the farmer's land in some rural area of the country? or does the farmer get to pay more land value tax simply because he has more acreage?
Assessors do it, the same way they determine the value of property right now. In fact, our property assessment is still split into land and structure portions. The land value isn't set for the whole country or even a whole county but on the market price of that particular piece of land. Just as it costs much, much more to buy a acre of real estate in a central business district than it costs to buy an acre of farmland, you pay more taxes the more valuable the land is.
All those "rich" people living in rural areas should be taxed out of it and herded into high density slum housing it would seem. They must be using more than they need out there in the country.
People in parts of the US actually live in modest homes with acreage. Some people just buy land to have it for future use, sometimes it appreciates sometimes it doesn't, but they can keep it because the taxes are reasonable on raw land.
This idea of taxing land only, and preventing anyone from making a profit off of their investment is punitive, anti-capitalist, unfair, and reeks of outright communism.
You want to stop the individual from another method of acquiring wealth or security, just because some wealthy person somewhere might also profit.
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