LVT is a good reform to do, but if the goal is to improve housing affordability through supply it's quite an indirect measure and occur at a glacial pace without proper planning reform.
Many areas where people want to live and where homes should be built, can sometimes have a large portion of home owners like Mosman, Bondi, Croydon or Woollahra in Sydney. A tax on the unimproved value of land just doesn't get home building started here if no one is a renter (I recall increases in rent were tied to LVT in Progress and Poverty). And if its based on valuations the valuations will again be distorted by planning controls.
If you upzone these areas for towers, the moment the first person takes the gazillion dollar offer from a developer suddenly homes get built, and suddenly everyone else want to exit. And besides if you have LV Tax their land value will got up because their land will have fewer development limitations, higher demand, etc, etc.
Georgism is cool, land tax is cool, but it's not a silver bullet.
If your goal is to make homes more affordable, reforms like the ones they did in Auckland (loosening planning controls) is the way to go. https://onefinaleffort.com/auckland
Similar thing is taking place in Austin Texas right now as well.
https://www.pew.org/en/research-and-analysis/articles/2026/0...
If your goal is to redistribute wealth Georgism is not a bad option, but again planning controls (zoning, Floor space, height limits, heritage controls, parking minimums, upper setbacks, excessive lower setbacks) can suppress the true size of the tax base.