Land Value Tax

Question

What is the difference between property tax vs a land value tax? According to [https://en.wikipedia.org/wiki/Land_value_tax](https://en.wikipedia.org/wiki/Land_value_tax), Land value taxes are generally favored by economists. Why?

In: 3

Answer 1

Pretty simple; with a land value tax you don’t pay more tax for improving the land. This increases the incentive to improve land thereby increasing economic efficiency.

Answer 2

Isn’t a land value tax fairly common throughout the world already?