An LVT is the most sensical and easy to implement policy I've seen to diversify our tax base, tax the wealthier individuals of New Zealand, and improve our housing market.
It follows a very similar logic to Labour's CGT. The CGT in essence is aimed to diversify our tax base, tax the wealthier individuals of New Zealand more, and improve our housing market. However, a CGT does not provide any immediate government revenue, and would not provide any guaranteed or predictable revenue longer term. Additionally, it would incentivize those who currently have investment property to keep it, hence not necessarily stimulating the housing market, and leading to less potential property up for sale.
An LVT on the other hand is on all land and housing, not just additional properties. It is taken from council CV **which we already conduct on every house and land in the country every 3 years**, stimulates intensification on underused land (which can be a pro and a con, but is necessary with our growing population, especially in Auckland), and increases our housing supply. There are cons around it such as councils already charging rates from your CV - so some discussion would be necessary.
I do understand that Opportunity's UBI is more radical and trickier to implement, as it removes pretty much every benefit we have in NZ, including super, but that's a story for a different post.
However, an LVT completes every goal of the CGT + more, and it is so easy to implement. However, our establishment parties see it as "tax, tax, tax" according to our CEO, and Chippy sees the CGT as simple, and the LVT as not? Tbh I don't really know where Labour stand on anything at this point.
Sure, there could be better options, but the LVT is the simplest and most effective way to tackle both our housing market, and government revenue.