Rates should be on land, not improvements

The Post reports:

The Green Party and its closest mayoral candidate have independently come up with near-identical housing policies by targeting land banking with a promise of lessening future rates rises.

The policy, rolled out separately by independent candidate Alex Baker and Green Party councillor Geordie Rogers and other Greens candidates, would see the council change its rating system to be based on land value, rather than the value of land plus whatever is built on it.

I support rates being on land value only. This will encourage more efficient use of land. It will also encourage people to invest more in upgrading houses, if you can do so without worrying that your rates will increase because you have added something on.