A common concern about LVT is how to fairly and accurately assess land values. Lars Doucet wrote about this), arguing against many of the fears, and even started a company to help make better assessment models.
But, I do think people have a legitimate concern about their government moving most of the tax base from "objective" measures (income, transactions, corporate profits) to a more "subjective" one (land value) - particularly, because less objective methods are easier to manipulate by interested parties.
I had a thought: could we maybe move assessment into the private sector? Say, with multiple competing profit-incentivized entities establishing land rents, rather than a single government assessment entity? What could that look like? Could that be better? What is "better"?
I wrote some notes about "Land Banks", a new 99%-taxed regulated entities that would be the only permitted holders of land deeds: https://rafd.me/words/2023-12-28-a-market-alternative-to-land-value-assessment
I'm not convinced this is "the right way", it's just a brainstorming exercise - but maybe it might spark some good discussion. What do you think?