Joseph Stiglitz proved what he called the Henry George Theorem which shows basically that useful government expenses will always show up as increased land value that matches or exceeds the cost.
Unfortunately, it is true that a fair amount of government expenses are not useful. (i.e. do not constitute a public good in the economic sense)
The Henry George Theorem also requires the public good to be local. Military spending for example is a public good that doesn't show up in land value increases.
Also in some cases (often with environmental spending) there is an external downward pressure on land value that is offset by an increase but you don't necessarily get an increase from the original neutral value if the pollution didn't occur.
Unfortunately, it is true that a fair amount of government expenses are not useful. (i.e. do not constitute a public good in the economic sense)