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A Land Value Tax for London?

A report for the incoming Mayor of London, advocating for a land value tax trial in the city.

2016

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Denmark has used land value taxation since 1924. The rate ranges from 0.6 to 2.4% on the land's estimated market value, payable to local authorities/country, and the land value is revalued every two years. Estonia introduced a land value tax in 1993. While the tax is national, the rates annually determined by municipalities, who receive 100% of the revenue. Rates range from 0.5 to 2% of the market value of land. Agricultural land is taxed less. Finland uses a land value tax. The rate on land with buildings ranges from 0.5 to 1% of land value, with lower rates for land with permanent housing, higher rates for land used as summer cottages, and a ‘penalty’ rate of 3% on vacant lots in urban areas. The city of Harrisburg, Pennsylvania, offers a strong example of a successful land value tax. In the period following Harrisburg, PA's land value tax, the number of vacant lots fell by 80%, the tax base rose from $212 million to $1.6 billion, and the crime rate fell 46%.
Navin Shah Tom Copley Andrew Boff Steve O'Connell Nicky Gavron
Land Value Tax
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