Value of light tanks?

[XLVIII Pz. Korp]

They make wonderful raiders in the rear areas. Great support for recon units too. Also they are a good manuever element to cut retreat routes.

Two of my favorites tricks are moving them around out of my opponents LOS causing him to hear the sound of armor approaching but not knowing of course that they are lights. A little bit of misdirection by sound.

Second, and more tactical, though you will lose some, is using them to draw fire from your opponents AFV's (preferably at long range), ideally causing the defending armor to change their facing, then you follow up by engaging those same AFV's with your own tanks hopefully now vs. their side or rear armor.