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Also, I would like to point out that any property improvements themselves don't get factored into the land value tax itself. Properly, a land value tax is a res
by norea-armozel 11y ago
Also, I would like to point out that any property improvements themselves don't get factored into the land value tax itself. Properly, a land value tax is a response to the value of the land itself (where you're literally just buying a plot sans any external improvements). So, demand for land itself sets the bar for the tax. If a plot is $100 today but doubles to $200 dollars the tax should (on a curve or however it's computed) increase thusly. But if you improve the property on the land like adding better windows to your home or solar panels those improvements don't factor into the tax. Thus, it incentivizes you to keep adding to the property value without the current penalties of the property tax system we have today.