Land value tax would be collected annually. As far as affordability goes, there are two factors to consider. First, the LVT applies only to the land value, not to the house price (my house is worth $150k but the amount of that that is land value is only $30k, so my LVT due would be $1800). Second, consider that the land value tax is linked to the universal basic income. So, I would be paying $1800/year in land value tax and recieving $12,000/year in UBI. The UBI would more than cover my tax increase. The average person would not be a net payer. Only people and corporations that are exceptionally wealthy and own extremely valuable land would end up being net payers.