Estimation of Land Value Tax Revenues in London

Catherine Barnaby, Nicholas Pearce

Research output: Book/ReportOther report

Abstract

Land Value Tax (LVT) revenues can be estimated based on the underlying land value and the use
of the land. This report gives estimates of potential LVT for each London borough and the whole
of London. These estimates are compared to revenue from the current tax regime: Council Tax
(CT) and (residential) Stamp Duty Land Tax (SD) for domestic taxation and, for non-domestic tax,
the National Non-Domestic Rates (NNDR) and (non-residential) Stamp Duty Land Tax. In each
scenario, the level of LVT is adjusted to keep the total revenue across the whole of London static.
For domestic tax based on the land area of domestic buildings:

An LVT of 1.97% gives London-wide domestic revenue of £6.5bn, similar to CT plus SD

An LVT of 1.04% gives London-wide domestic revenue of £3.4bn, similar to CT only
For domestic tax based on the area of domestic buildings plus domestic gardens:

An LVT of 0.62% gives London-wide domestic revenue of £6.4bn, similar to CT plus SD
For non-domestic tax:

An LVT of 2.85% gives London-wide non-domestic revenue of £6.4bn, similar to total NNDR
net collectable revenue

An LVT of 3.41% gives London-wide non-domestic revenue of £7.6bn, similar to NNDR plus
non-residential Stamp Duty
Original languageEnglish
Place of PublicationBath
PublisherInstitute for Policy Research, University of Bath
Number of pages15
Publication statusPublished - Jul 2017

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land value
tax revenue
taxes
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Cite this

Barnaby, C., & Pearce, N. (2017). Estimation of Land Value Tax Revenues in London. Bath: Institute for Policy Research, University of Bath.

Estimation of Land Value Tax Revenues in London. / Barnaby, Catherine; Pearce, Nicholas.

Bath : Institute for Policy Research, University of Bath, 2017. 15 p.

Research output: Book/ReportOther report

Barnaby, C & Pearce, N 2017, Estimation of Land Value Tax Revenues in London. Institute for Policy Research, University of Bath, Bath.
Barnaby C, Pearce N. Estimation of Land Value Tax Revenues in London. Bath: Institute for Policy Research, University of Bath, 2017. 15 p.
Barnaby, Catherine ; Pearce, Nicholas. / Estimation of Land Value Tax Revenues in London. Bath : Institute for Policy Research, University of Bath, 2017. 15 p.
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abstract = "Land Value Tax (LVT) revenues can be estimated based on the underlying land value and the use of the land. This report gives estimates of potential LVT for each London borough and the whole of London. These estimates are compared to revenue from the current tax regime: Council Tax (CT) and (residential) Stamp Duty Land Tax (SD) for domestic taxation and, for non-domestic tax, the National Non-Domestic Rates (NNDR) and (non-residential) Stamp Duty Land Tax. In each scenario, the level of LVT is adjusted to keep the total revenue across the whole of London static. For domestic tax based on the land area of domestic buildings:• An LVT of 1.97{\%} gives London-wide domestic revenue of £6.5bn, similar to CT plus SD• An LVT of 1.04{\%} gives London-wide domestic revenue of £3.4bn, similar to CT onlyFor domestic tax based on the area of domestic buildings plus domestic gardens:• An LVT of 0.62{\%} gives London-wide domestic revenue of £6.4bn, similar to CT plus SDFor non-domestic tax:• An LVT of 2.85{\%} gives London-wide non-domestic revenue of £6.4bn, similar to total NNDR net collectable revenue• An LVT of 3.41{\%} gives London-wide non-domestic revenue of £7.6bn, similar to NNDR plus non-residential Stamp Duty",
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AB - Land Value Tax (LVT) revenues can be estimated based on the underlying land value and the use of the land. This report gives estimates of potential LVT for each London borough and the whole of London. These estimates are compared to revenue from the current tax regime: Council Tax (CT) and (residential) Stamp Duty Land Tax (SD) for domestic taxation and, for non-domestic tax, the National Non-Domestic Rates (NNDR) and (non-residential) Stamp Duty Land Tax. In each scenario, the level of LVT is adjusted to keep the total revenue across the whole of London static. For domestic tax based on the land area of domestic buildings:• An LVT of 1.97% gives London-wide domestic revenue of £6.5bn, similar to CT plus SD• An LVT of 1.04% gives London-wide domestic revenue of £3.4bn, similar to CT onlyFor domestic tax based on the area of domestic buildings plus domestic gardens:• An LVT of 0.62% gives London-wide domestic revenue of £6.4bn, similar to CT plus SDFor non-domestic tax:• An LVT of 2.85% gives London-wide non-domestic revenue of £6.4bn, similar to total NNDR net collectable revenue• An LVT of 3.41% gives London-wide non-domestic revenue of £7.6bn, similar to NNDR plus non-residential Stamp Duty

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