This seems like an interesting idea but, every time I read about a land value tax (LVT), the description is <i>very</i> high-level and leaves me with more questions than it answers:<p><pre><code>  - How do you measure the basic value of the land?
    Is is it the amount of rent collected minus 
    maintenance-and-improvement expenses?  Does
    this mean it is impossible to turn a profit
    as a landlord?

  - Is the tax also applied to land that is not 
    rented?  Is it harder to assess the value of
    that land?

  - Does this system discourage conservation by
    incentivizing everyone to sell their unused
    land to someone who is going to develop it?

  - A common type of investment in today&#x27;s no-LVT
    world:  I buy an undeveloped plot of land that
    noone would pay anything to live on in a town
    just outside of Worcester, MA.  I spend $100k
    building a house on the premises, and then I
    proceed to rent out that house for $1k per month.

    Under an LVT system, do I still have any reason
    to buy that land and build a house on it?  How
    much money can I make? 
</code></pre>
Thank you for your time.