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2. Land value tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Land_value_tax_in_the...

   Land value taxation (i.e. property tax applied only to the unimproved value of land) has a long history in the United States dating back from Physiocrat influence on Thomas Jefferson and Benjamin Franklin. It is most famously associated with Henry George and his book Progress and Poverty (1879), which argued that because the supply of land is ...

3. Land value tax - Wikipedia

   en.wikipedia.org/wiki/Land_value_tax

   A land value tax ( LVT) is a levy on the value of land without regard to buildings, personal property and other improvements upon it. [1] It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating . Some economists favor LVT, arguing it does not cause economic inefficiency, and ...

4. Highest and best use - Wikipedia

   en.wikipedia.org/wiki/Highest_and_best_use

   The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...

5. Property tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Property_tax_in_the_United...

   Median household income and taxes. Most local governments in the United States impose a property tax, also known as a millage rate, as a principal source of revenue. [1] This tax may be imposed on real estate or personal property. The tax is nearly always computed as the fair market value of the property, multiplied by an assessment ratio ...

6. Property tax rates by state: What to expect in your area - AOL

   www.aol.com/finance/property-tax-rates-state...

   State. Effective Tax Rate. Average Home Value. Average Tax on Average Value Home. Average Tax on Median Value U.S. Home ($420,321*) Alabama. 0.42%. $265,811

7. Diminution in value - Wikipedia

   en.wikipedia.org/wiki/Diminution_in_value

   Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate ...