4 ms·
That's an objection that many have raised (Hayek thought it made LVT impractical), though there are schemes to make it better than the current system (county-ru
by bufordsharkley 11y ago
That's an objection that many have raised (Hayek thought it made LVT impractical), though there are schemes to make it better than the current system (county-run assessors, whose values often bear very little connection to reality)-- self-assessment of your land value being one.
- dragonwriter 11y agoSelf assessment doesn't really solve anything, especially if it's for unimproved value (which is the tax basis in LVT), but all other important uses (including, e.g., eminent domain) use as-is, improved value. Self-assessment is arguably efficient for setting tax basis value for things with ad valorem taxes when it serves as a firm and irrevocable offer to sell at the price (e.g., if it were the firm, out upper limit, value for eminent domain purposes.) But when the value taxed if definitionally different from the price expected in any transaction, as it is worth unimproved land value taxes, self assessment is trivially fallbacks to the point of uselessness. In any case, I'm unconvinced that land value tax makes sense in a post-industrial economy; in an agricultural economy out industrial economy, sure, I can see the attraction.