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If the tax is 100% of the annualised return on the land (so perhaps around 6-7% of the land value) an increase in property values will lead to a concomitant inc
by samscully 10y ago
If the tax is 100% of the annualised return on the land (so perhaps around 6-7% of the land value) an increase in property values will lead to a concomitant increase in the level of UBI. Presumably there is an equilibrium point where prices settle down though it would lead to significant inflation initially.
- bufordsharkley 10y agoYes, it would be pegged to the full Economic Rent of the whole of the land stock. Essentially making it a citizen's dividend on the value of this land.