Re:Some arguments against a land value tax (2024)
by vannevar on Friday July 11, 2025 @04:13PM
(#44536386)
Yes, it's a straw man argument. It may be possible to tax the rental value away, but in practice, no jurisdiction levies a rate that high, because the officials that enacted it would be thrown out of office in the next election. It certainly shouldn't be presumed the standard case. It's like saying we shouldn't use electricity because it's possible to be electrocuted.
Re:Some arguments against a land value tax (2024)
by scyclow on Friday July 11, 2025 @03:45PM
(#44536161)
My biggest criticism of LVT is that the name is confusing :)
The idea is that you're taxing 100% of land rents, not 100% of the total value. So if there's a 5% cap rate on your property, and the land value is $300k, then the annual tax bill would be $15k.
Re:Some arguments against a land value tax (2024)
by Sloowms on Monday July 14, 2025 @03:12AM
(#44557260)
It's a very weird system to own anything underneath the land anyway. That's how you get the weird oil race areas where people will be drilling from the same source next to each other. The same goes for the water underneath the land.
In some countries the property rights only go like 10 meters deep and even then if there is a need for plumbing underneath there are exceptions. Maybe the issue then becomes that you're not free to do what you want on your own property but it's not like this is a thing in home owners association single family home areas anyway.
If the tax is 100% of the value, sure. But left unstated is whether taxes are 100% of value. If taxes are 100% of value, there is no incentive to own the land in the first place, my $400,000 house costs me $400,000 in land tax to own... yearly?