[Based-A]

I definitely agree, I should have specified that it's said that way to avoid getting trapped in the weeds when talking with the average person, not when discussing actual policy implementation.

The next paragraph in my original comment starts to touch on how a LVT is somewhat inherently resistant to abuse by bad actors. Unlike financial accounts and spreadsheets and tax filings, you can't distort or hide your land, what's on it, and what's around it. If someone claims that their land is worthless, but there's hotels and amusement parks or maybe even a new large outlet mall being built nearby, it's easy to see that that claim isn't valid. I'd even say that it'd be relatively easy to penalize those assessors who intentionally misvalue land.

Of course, the caveat is in how the system is implemented like you mentioned. And while I'd love to say that there are workarounds and fixes and stopgaps to prevent for every edgecase a LVT presents, but I can't because we're only starting to see states and municipalities entertain the idea of LVT.