The assignment explores the potential applicability of a potential land value tax as an alternative to the existing property tax system. In this document, you are required to provide a justification for this study. This means presenting an analysis of the existing system of property taxation, highlighting its failure to generate enough revenue for local governments, critiquing the method of valuation (replacement cost), its inability to capture land value given that it is taxed on improvements only, the public disdain towards the tax, how it encourages land speculation, how it does not encourage efficient development, and generally focusing on how it fails as a good/just tax. The justification should be strong enough to warrant the exploration of the applicability of a potential land value tax.

References must be as much as possible be recent, although older references are allowed