hugh wrote
Andrew May wrote
Rod Speed wrote
Andrew May wrote
Doctor Drivel wrote

There is nothing simpler than LVT. Only one tax. Reclaiming the annual value rate of land and no other taxes.

I have asked you this before and you didn't answer. How do you value the _land_ on which a house is built?

In theory you look at the price bare land is sold for and try to find something comparable to the land under the
house location wise etc.

In practice with modern citys where there is very little bare land
available anywhere except the extreme outskirts etc, its one hell
of an abortion/guess.

But the value of a bare piece of land is only that of farmland unless
it has planning permission, in which case the value depends on what
the planning permission is for. So, a bare piece of land is valued as farm land. The same piece with planning
permission for a two-bedroom
bungalow has a higher value. But if it has planning permission for a
16-storey office block it is higher still.

But, the land on which most houses stand does not have planning
permission to build anything[1]. So the value must, by definition, be
that of farmland. You could argue that if it already has a house on it should be valued based on an assumption that
it would get planning
permission to build a house. But if you do that you open up a whole
new can of worms. If I own a site with no planning permission that has never been built on in the middle of a town
what is it worth? The
value as farmland? The value with a house on (in which case what size or how many) or the value with an office block
on. I could apply to build any of those but until I do what I would be allowed to is a matter of speculation.

[1] Planning permission lapses after typically five years. If I knock down an existing house there is no guarantee
that I will get permission to build another.

You gotta ave PP to knock down your house guv.

Not if you arrange for it to burn down and get ordered to make the site safe afterwards.