Comment by geocon

The point of an LVT is to incentivize the efficient use of land and to compensate the public for the recognition of exclusionary title to use of a location. This doesn't change based on who it is that is using the land or what they are using it for. Take a $20 million plot of land in LA; it makes no sense to exempt a person with a mansion there from paying a tax and penalizing a developer who builds a huge apartment building that can house 50 families! By keeping the LVT flat and not exempting particular uses, you avoid distorting the market and- in the case of a homestead exemption- punishing people who build apartments over single family homes, etc.