RECONSIDERING LAND-VALUE TAXATION - THE GOLDEN KEY

This paper considers how land value taxation (LVT) may resolve the dil emma of declining central cities and sprawling urban areas, Literature review, discussions with professionals, and personal observations are used to address this objective, The paper begins with an overview of LVT that focuses on why some planners have labeled LVT the 'golden key ', Next it presents the theoretical arguments pro and con regarding th ese anticipated effects, followed by a summary of the empirical eviden ce on LVT that has been published to date, The evidence indicates that LVT may not be the golden key, but it does appear to offer an effecti ve tool for encouraging development in some central city areas. Copyri ght (C) 1996 Elsevier Science Ltd