Re:Redfin Economist says land value tax will fix the economy
by yellowapple on Monday June 20, 2022 @06:39PM
(#31817131)
> If I understand it correctly, LVT would allow people to state what they think their property is worth and pay taxes accordingly. They could put down any value but anyone could buy it from them at that value.
That's one approach. Another is for property appraisers to determine the land value - something which is already pretty commonly done.
> How could you even say the property is yours?
It never was. All land "ownership" consists of borrowing a portion of a nation-state's sovereign territory. LVT makes that explicit, requiring land "owners" to pay what's actually due to society (rather than a tiny fraction thereof as is the status quo).
That's one approach. Another is for property appraisers to determine the land value - something which is already pretty commonly done.
> How could you even say the property is yours?
It never was. All land "ownership" consists of borrowing a portion of a nation-state's sovereign territory. LVT makes that explicit, requiring land "owners" to pay what's actually due to society (rather than a tiny fraction thereof as is the status quo).