Split assessment (or split-rate taxation) is an approach where land and buildings are taxed at different rates, typically with higher rates on land value and lower rates on building value. Proponents argue this encourages development of vacant or underutilized land, discourages land speculation, and rewards property improvements without increasing taxes. Critics note implementation complexity, potential impacts on certain property types, and questions about effectiveness. While not widely used in Canada, some jurisdictions have explored or implemented variations of split assessment. The debate connects to broader discussions about using property taxation to influence land use patterns and development timing. Traditional assessment treats land and buildings as one property value taxed at a single rate.