And what is your take on when Minneapolis voted to allow multi-family units[0] and rents dropped[1] relative to other cities? Shouldn't those new units have brought higher land values, and with it higher rents?
you can put a duplex or quad-plex on a parcel and have much lower rent, but higher parcel land value.
If you are a homeowner who wants lower land value tax, you should fight tooth and nail to prevent higher density zoning,