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Land value and property taxes are fair if you look at it from the perspective of value received from local services rather than cost to provide local services.
by TheCoelacanth 8y ago
Land value and property taxes are fair if you look at it from the perspective of value received from local services rather than cost to provide local services. A lot of the value of a property comes from how good the schools are, how effectively policed the area is, how good the transportation infrastructure is, etc. It's only fair that the community be able to capture some of the value that it is creating.
- beojan 8y agoUnfortunately, this just leads to areas that are well-run already (generally rich ones) getting more and more funding, and areas that are already poorly run (generally poor ones) having to work with even more restricted funding. With a property tax system, it would be impossible to rehabilitate a municipality where property prices have dropped to ~0 (e.g. parts of the North of England, and Detroit).