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# Land Tax

## Definition

A tax levied on the rent or value of land, which may be assessed either
according to a fixed valuation or varied with changes in the actual rent of
the land, and which can be a significant source of public revenue.

## Source Chapter

Book V, Chapter 2

## Context

Smith analyzes different methods of assessing land taxes, comparing the
English system of fixed valuation with more variable systems, and discusses
the advantages and disadvantages of each approach for both the government
and landowners.

## Economic Domain

General Theory

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