Does Georgism work? Is land a big deal?
The pro-Georgist essayist lists the three biggest challenges to Land-Value Tax as:<p>&gt; 1) Land might have been a big deal in 1879, but it just doesn&#x27;t matter much today<p>&gt; 2) Landlords will just pass Land Value Tax (LVT) on to tenants, so it won&#x27;t work<p>&gt; 3) In real life you can&#x27;t accurately assess land value separately from improvements, so even if LVT would work in theory, it doesn&#x27;t work in practice<p>I personally understand and (mostly) agree with rebuttals to (1) and (2). At least in areas of constrained housing. But I fail to see how (3) would work out.<p>To me, I think setting the LVT higher than the value of the land would be disastrous because people wouldn&#x27;t want to own that land, let alone improve it. Setting it lower than the value of the land wouldn&#x27;t be as disastrous, but seems like it could still encourage similar behavior that we have today (under-develop the land, NIMBYism, hold land passively and wait for scarcity price gains). Perhaps any amount of &quot;getting close&quot; to the true LVT is at least helpful, as long as you don&#x27;t go over.<p>Or maybe I&#x27;m mis-thinking this and accidentally settings taxes higher than the &quot;true&quot; LVT isn&#x27;t disastrous?