It is the land value increment tax, formerly known as a betterment tax.

In 1747 the whole terrace was given to him by the Saxon elector as a gift for the innovative introduction of a betterment tax.

A betterment tax would be assessed in order to divert from the owner of the property the profit thus accruing unearned to him.

Law that allows local authorities to establish dedicated funds for carrying out educational projects, using surpluses that have accumulated from sums they receive for (land) Betterment Tax payments.

Historically, most valuations in Israel were statutory valuations (such as valuations performed for purposes of Betterment Tax - a tax administered on any gains accruing to the property by way of changes to the local planning) as well as valuations performed for purposes of bank lending.