Re:Detroit wants to be the first big American city to tax la...
by adverbly on Tuesday October 17, 2023 @12:45PM
(#37917838)
I do not see Brazil under the Wikipedia section for implementations of land value tax. I tried to look myself, but did not see a definitive answer. It sounds like there is a property tax, but a property tax is different from a land value tax.
Also, 2% is in a similar range to many existing implementations, and has been shown to be too low to prevent speculation.
Your comment about "it's gone" shows that you do not understand the intent here. I would recommend you watch the following: https://m.youtube.com/watch?v=h59se33UCK4
In short, the land is not gone. The profits you made if you rented it out are not gone. However, any hope of increased value through speculation will be diminished based on how long you held the high value asset prior to sale... which is the exact intent of this policy change.
Also, 2% is in a similar range to many existing implementations, and has been shown to be too low to prevent speculation.
Your comment about "it's gone" shows that you do not understand the intent here. I would recommend you watch the following: https://m.youtube.com/watch?v=h59se33UCK4
In short, the land is not gone. The profits you made if you rented it out are not gone. However, any hope of increased value through speculation will be diminished based on how long you held the high value asset prior to sale... which is the exact intent of this policy change.