valuation of land

At first glance, this seems valuation odd, even perverse. Apart from agricultural land, bare land is rarely if ever rented. There is evidence that little or no rent. On the other hand, building land is constantly bought and sold and it is not difficult to find good objective evidence for capital values​​.The problem with capital values​​, however, is that they are subject to the vagaries and vicissitudes of market sentiment and may fluctuate valuation of land considerably. The performance of the LVT-based capital values ​​may vary considerably. This lack of stability and predictability in performance is the basis of capital value unsatisfactory from the stand point of the government. It is also unsatisfactory from the stand point of the taxpayer, as the tax payable can fluctuate from year to year valuation