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A comment on Detroit wants to be the first big American city to tax land value. Parent comment

Re:Detroit wants to be the first big American city to tax la... by s1artibartfast on Monday October 16, 2023 @08:42PM (#37908739)
The Current system has property tax as one revenue stream of many. Income tax brings in by far the most funds, and there are sales taxes ect.

If you retire, or loose income, people currently pay less income taxes. You can also live frugally to cut down on sales taxes.

With LVT, taxes are detached from income and spending. Your taxes are also based on the whims of others. If your neighborhood gets trendy, you tax bill might double.

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Re:Detroit wants to be the first big American city to tax la... by eru on Monday October 16, 2023 @10:41PM (#37909865)
Well, your LVT only goes up if your property becomes more valuable. So that's your compensation right there.
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