How much of the rent on your apartment is due to its location? might be 10% in a small town, but it is likely more like 50% in most cities (unless the landlord is providing a lot of services -- doorman, flowers in the lobby). In his land value tax, he'd be paying for the value of the site. In a highrise, that value gets used by dozens of housing units in each column.
You wouldn't see a tax bill because you're not a landowner. But you'd be paying your share via your monthly rent. And your rent would not rise: your landlord is already charging what the market will bear.
And if there is a vacant lot next door, its owner would be motivated to build on it or sell to someone who would. That would likely reduce the rise in your monthly rent.
You wouldn't see a tax bill because you're not a landowner. But you'd be paying your share via your monthly rent. And your rent would not rise: your landlord is already charging what the market will bear.
And if there is a vacant lot next door, its owner would be motivated to build on it or sell to someone who would. That would likely reduce the rise in your monthly rent.