| Abstract: | Abstract . Application of the land value tax has been described for many natural resources. However, the problems encountered with flowing underground resources have not been fully discussed. Groundwater is one such flowing resource that affects the value of surface land. The underground water is also subject to its own market forces. If a Georgist tax is to be applied to groundwater or to land affected by it, the administrator of the tax must consider the interplay that occurs between the two resource markets. A system of separable property rights to the two resources offers the prospect for efficient use. But the monitoring of ground water use must accompany such a separation. |
