Re:How to make housing more affordable
by shalmanese on Saturday September 25, 2021 @03:59PM
(#28655792)
A 1.01% property tax is financially equivalent to a 99 year lease, it's just that one is politically a lot more palatable in certain countries.
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Not really equivalent in general, though.
You don't have to re-purchase after 100 years. There is no risk that the government refuses to re-lease the property to you.
Re:How to make housing more affordable
by yellowapple on Sunday September 26, 2021 @06:25AM
(#28659764)
That risk doesn't have to exist with land leases, either; it could very well (and in practice does) work exactly like LVT does (and indeed, at a 100% LVT, the difference between LVT v. a land lease is semantics) - i.e., with the current user of that land (i.e. the current LVT payer, or the current leaseholder) being in control of whether to keep paying LVT / renew the lease.
If your lease on your apartment expires, do you think you're not given first dibs on whether to renew the lease? Same deal here.