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There are policies that allow for taxation while still not evicting people from their homes. For example, some states let property taxes accrue as a lien agains
by curun1r 8y ago
There are policies that allow for taxation while still not evicting people from their homes. For example, some states let property taxes accrue as a lien against the property that needs to be paid when the property changes ownership. This keeps people in their homes without locking in generations of the same family without compensating the public for the use of that public resource (and yes, land is a public resource of the state, regardless of some piece of paper that grants ownership to some resident.
But the theory on taxation of monopoly rents is quite well fleshed out and that kind of tax has a number of positive effects on society. The fact that most of California’s housing woes can be traced back to a policy that limits this kind of tax is telling and there’s no way I’d want to live anywhere without reasonable land tax policy. That said, taxes should be based on square footage and not assessed resale value to encourage high-density building.