The issue is “who chooses?” If it is a nuclear power plant, I’m sure governments have lots of input. OTOH, if the issue is whether to have surface parking for an apartment building, the city can set a zoning rule, but a profit seeking private entity is going to decide whether they should build at all. The LVT is meant to be a factor that private parties consider, not a mandate or prohibition. (Re siting nuclear power, I’ll guess that the cost of transmitting that electricity is a bigger deal than the cost of the land.)
I’m not sure which number you are calculating. Maybe “economic value to the city”? I’ll agree with your earlier comment that the cost of “adding more freeway capacity to serve an urban core” needs to include the cost of adding parking for the cars.
My only personal experience is Minneapolis which has newer facilities for basketball, baseball, and football. They are all on the fringes of the downtown core, and none of them have significant surface parking. They all have access to multi-story parking which may be shared with other users (and also the only rail public transit in Mpls).
I get the dilemma. If I want to build a baseball/football stadium and want lower priced land I need to go out to where there is no transportation other than autos. If I want to spend less on land I can build up, but more land is cheaper than building parking garages. If I want to get close to other transit, I’m using expensive urban land. I agree that is a problem not only due to the market price of the land, but also due to reducing the value of the neighboring land any time except game days.
I actually liked shopping malls. People parked once then walked from store to store. They didn’t mind walking because they had a climate controlled space, the storefronts were attractive and interesting, and no cars.
To me, really walkable means separating cars and people, giving the people something to enjoy while they walk, and changing the climate. The last is very hard here in the midwest. I keep coming back to very dense – like buildings at least 10 stories high.
I wasn’t thinking the people buying lower priced cars are also buying suburban homes. I was figuring they are living in apartment buildings with surface parking lots, probably not in the urban core. They are able to participate in the private car economy.
I got my number from the lower income columns in the Consumer Expenditure Survey https://www.bls.gov/cex/tables/cross-tab/mean/cu-size-by-income-1-person-2021.pdf My number might be skewed by the proportion of people over age 65.