Re:Redfin Economist says land value tax will fix the economy
by stevenalowe on Monday June 20, 2022 @07:26PM
(#31817593)
It seems that the LVT has a lot in common with the recent (insane) proposal to tax unrealized capital gains on stocks. Property taxes are already bad enough, but at least they’re based on actual sales figures not estimated/imaginary “potential market value”
Not even going to get into the weird incentives/pressure this would create for zoning boards.
Re:Redfin Economist says land value tax will fix the economy
by colinmhayes on Monday June 20, 2022 @08:12PM
(#31818020)
All taxes are bad in some way. We just have to decide which ones to implement or which spending to cut. I’d prefer to see a land value tax over pretty much anything other than a VAT because it is far less distortionary, but that doesn’t mean it is without its problems.
LVT would force these people (on the margin) to move to less desirable areas since their tax bill will go up. When they people will buy their house and want higher density housing put it since it's cheaper than single family homes under LVT. Over time all the single family home wanters will be forced to live further from the city center/desirable areas as land value continues to rise due to development in the area.