The other, called a land value tax, is a tax on the increased value of the underlying land itself near a transit expansion. Even without a land value tax, the city already captures some of the value new transit projects from the increased property value of the land and the structures that exist on the land. “We often like to say that this is returning the value,” said Greg Miller, the executive director of the Center for Land Economics, a national organization that promotes the use of a land value tax. Land value tax proponents also see it as the most effective form of value capture because it doesn’t discourage people from building on their land. When you upzone land, you create a lot of land value.