Under an LVT, almost all of the value of the surrounding improvements would be considered part of your land value, since even an empty lot in their vicinity would benefit from the surrounding improvements. Thus, a 100% LVT would capture 100% of the value someone might gain from the presence of those surrounding improvements. In the worst case, you personally benefit far less from those improvements than a typical renter would (e.g., bike lanes if you don't own a bike), so their presence is a net negative to you.
That's why income taxes are less than 100%. But some people advocate for a 100% LVT very seriously.
