Tony Bryer wrote:
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/

It should be 100% on unimproved land values and only falls on the landowner.
Taxing buildings is pure daftness - like taxing your washing machine.