On Sat, 13 Oct 2012 10:07:16 -0700 (PDT) Harry wrote :
Note: LVT is a tax on the "value" of the land, not the building.
Assessed annually.

Ed balls is one of those got us into all this trouble. He is a
tosser.
Exactly how is it to be assessed?

The same way as in Australia? Our rateable values are reassessed regularly
and the rate demand has two values, rateable value (on which you pay rates,
no upper limit) which is generally a little shy of market value to save
arguments and an unimproved land value, what the land on its own would be
worth given current planning policies. If total value (excluding your own
home) you hold in one state (it's a state tax) exceeds a certain amount you
have to pay Land Tax on it.

http://www.chan-naylor.com.au/land-tax/

--
Tony Bryer, Greentram: 'Software to build on',
Melbourne, Australia www.greentram.com