The German state (Land) of Baden-Wurttemburg has taken the historic step of legislating to introduce a state-wide Land Value Tax. See https://www.grundsteuerreform.net/aktuelles/ for details (you may need to translate from the German).
Like its founder, the Adam Smith Institute (ASI) has always spoken up for LVT in general terms but once again it has published a muddled report that merely recommends its introdction on "major [housing] developments". The ASI report recently had a little mainstream publicity and can be found here https://www.adamsmith.org/news/build-build-build-and-beat-the-germans-again
Having been rejected for the Autumn Conference, ALTER is supporting efforts by Andrew Dixon and others to promote progressive reform of domestic property taxes again at the Party's Spring Conference.
Is ALTER on the side of Generation Rent - the under-40s finding it harder every year to get a foot on the housing ladder? Of course we are.
Land Value Tax (LVT) is a levy on the unimproved value of land, it disregards the value of building, personal property and other improvements to real estate. LVT has been referred to as "the perfect tax" and the economic efficiency of a Land Value Tax has been known since the eighteenth century. LVT is a progressive tax in that the tax burden falls on titleholders in proportion to the value of locations, the ownership of which is highly correlated with overall wealth and income.
Our allies in the Labour & Cooperative Movement, the Labour Land Campaign, have achieved a significant victory by securing the support of the Cooperative Party Conference for a General Election Manifesto which includes very clear support for using LVT as an economic instrument.