News for hackers. Stuff that matters.

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 tmnvix on Monday October 16, 2023 @10:33PM (#37909810)
> The land is ruined

And so the value of the land is less and the LVT drops along with it.

Of course for someone planning on putting another service station there maybe not...

[ Parent | on HN ]
Re:Detroit wants to be the first big American city to tax la... by bombcar on Tuesday October 17, 2023 @07:51AM (#37913529)
The land can go negative in value; does the LVT start paying you at that point?

But that would make the land valuable again …

It’s quite possible to have a plot of land (especially in more rural areas) that is “worth” $10k but has state mandated cleanup required that costs $60k.

[ Parent | on HN ]