2 ms·
How is tax unconstitutional? If you allow a 1% LVT to accrue as a charge on the value of the home, that's only paid on disposal, there's no affordability probl
by isostatic 9y ago
How is tax unconstitutional?
If you allow a 1% LVT to accrue as a charge on the value of the home, that's only paid on disposal, there's no affordability problem either. Own a $2m piece of land at age 18, each year 1% of the value gets added as a charge. Die age 108 and 80% of the land value is then taken to pay the back-charges, leaving 20% for the estate.
- astrange 9y ago> How is tax unconstitutional? https://en.wikipedia.org/wiki/California_Proposition_13_(1978) https://en.wikipedia.org/wiki/California_Proposition_13_(197... https://en.wikipedia.org/wiki/California_Proposition_218_(1996) https://en.wikipedia.org/wiki/California_Proposition_218_(19... Proposing it as a sales tax might avoid Prop 13, but continues the problem where new buyers fund the state budget and homeowners/Baby Boomers get everything for free. Also, schools and local services might not get funded every year, I assume the rate of sales isn't constant.