So, are you curious about what a land value tax shift could look like in your city? Partial LVT Shift: Are you modeling a complete land value tax shift or a partial one? You'll need to decide whether to apply these exemptions to the building value, the land value, or a combination. Remember, we set out to model land value tax shift assuming exemptions still applied. Using these millage rates on every parcel's taxable improvement value and taxable land value, we now have parcel-level split-rate land value tax modeled.