Land value tax must be sufficiently high to stop prices boom

Regarding Victoria White’s column “Site value tax would be better and fairer option than a property tax”, (Sept 27), I agree with everything except one point.

She said that property values go up and down while land prices remain static.

Actually, it is quite the opposite where land value is insufficiently taxed. If the assessors are doing their jobs they will notice that land prices rise dramatically during boom years as speculators see land as a good investment, and then periodically collapse when reality sets in.