How is this assumption required by the LVT system? My basic reading of LVT suggests that the assessed tax value of land could increase or decrease just as the current property tax system can increase or decrease.
When is the last time your property tax valuation decreased?
Where I am the rate increases are capped but if they want more money they just work around that by increasing the valuations.
If the rentable price was 6k one year and 5k the next then you’d simply pay less rent for the land.