Now that Andy Burnham has made his home in No10, a new property tax could be on the cards. In 2010, he proposed a Land Value Tax (LVT) when he first attempted to become Labour leader. So what would a new property tax involve, and how would it affect Londoners? Andy Burnham enters No10 with his wife Marie-France van Heel after becoming Prime Minister (Getty)What would a new property tax look like? A PPT is not a pure land value tax (LVT), but a variation based on the value of properties.