Americans hate property taxes. A solution may lie with the implementation of a land value tax rather than a property tax system, but the obstacles politically, legally and ideologically will probably hinder changes any time soon. Used by various local governments, the land value tax can resolve property tax efficiency issues and place much of the revenue under government control. Land value tax can be initiated in two forms; a true land value tax structure or a split-rate system. Either way, despite the system’s apparent efficiency and positive impact on economic growth, governmental dependency on property tax income and its perceived connection to overdevelopment, makes changing tax systems an intellectual and practical challenge.
Read the full article here: Land Value Tax: An Alternative to the Property Tax