Comment by ishouldstayaway
2 days ago
The point of LVT is right there in the name: it is the land that has value. "Location, location, location" is an old cliche for a reason.
If you let your property go empty and crumble, the Land Value Tax is there to provide the incentive for you to either fix up the property and actually use it, or sell it to someone who will.
What if nobody wants to buy it and you can't pay the tax?
The same thing you do now when you can't sell a piece of land: you lower the price.
In addition to what others said, in this case the land is obviously not worth very much, and thus the taxes are also minuscule.
The state takes it, and then can either sell it off or use it. This makes it easier to do things than trying to find who owns a probably abandoned property.
Or it just decays without a real owner.
Then it’s worthless and the state will take abandoned land for $0.00.
If the land is worth less than nothing (contaminated etc) then there should have been a bond involved to ensure the clean up fee was collected.