Comment by jlhawn

I found some more to nitpick, from the section on "LVT implicitly taxes improvements on nearby land":

> For instance, if a developer owns multiple adjacent parcels and decides to build housing or infrastructure on one of them, the value of the undeveloped parcels will rise due to their proximity to the improvements. As a result, the developer faces higher taxes on the remaining undeveloped land, making development less financially appealing in the first place.

This analysis misses the point. It doesn't make development less financially appealing, it makes owning land you're not planning on using any time soon less appealing. It disrupts (in a good way) the current land development model where one entity buys a large tract of land and develops and sells it off one piece at a time. That's a model based on land speculation. They may see it as the development of the first 20% of land increases the value of the remaining 80% (which they feel justified in profiting from) but that is neither guaranteed nor is it an accurate description of what causes the remaining 80% of land to increase in value. It's more accurate to say that the agglomeration effects of the people who moved into that first 20% (and their interaction with the existing local economy) are more responsible for it.