A Land Value Tax for Wales? Valuation methodologies

Goodwin-Hawkins, Bryonny ORCID: https://orcid.org/0000-0002-9399-5486 (2026) A Land Value Tax for Wales? Valuation methodologies. Working Paper. Countryside and Community Research Institute, Cheltenham. (Unpublished)

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Abstract

Valuing land is crucial for implementing a Land Value Tax (LVT) in practice. Yet, because land and buildings are usually sold together, methods are needed to estimate the unimproved land value. Multiple potential methods exist in both research and international taxation practice, which vary in their assumptions and complexity. No single optimal method exists. Instead, whether a method is feasible depends on the context it is applied to, the data and capacities available, and whether the results are sufficiently fit for purpose. This report considers potential pathways for land valuation in the Welsh context. It draws from both a review of empirical research on LVT, which illustrates how researchers construct land value, and a review of international property taxes with a land component, which shows the choices behind the range of approaches in practice. By synthesising these reviews, the report identifies five methodology groups for testing in Wales: 1) market-based statistical methods, 2) algorithmic and machine learning approaches, 3) formula-based approaches, 4) conventional valuation approaches, and 5) innovative or experimental methods. Testing how these methodologies perform when applied to diverse areas of Wales is essential for understanding their robustness and feasibility at scale. The report concludes with questions for policy to guide comparison across methods, emphasising the need for approaches that are credible, transparent, and aligned with wider Welsh policy objectives.

Item Type:	Monograph (Working Paper)
Uncontrolled Keywords:	Land Value Tax; Property taxation; Land valuation
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Schools and Research Institutes > Countryside and Community Research Institute
Depositing User:	Bryonny Goodwin-Hawkins
Date Deposited:	23 Feb 2026 09:10
Last Modified:	23 Feb 2026 09:10
URI:	https://eprints.glos.ac.uk/id/eprint/15861

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