3 ms·
Over the long run, does that end up being much different than typical US property taxes? I think the US typical house pays prop taxes every year based on land
by AgentOrange1234 7y ago
Over the long run, does that end up being much different than typical US property taxes? I think the US typical house pays prop taxes every year based on land + improvements. Wouldn’t this be even less of a tax?
- rcpt 7y agoIt would be a very high tax for the Los Angeles County Club. It would be a comparably low tax for 432 Park.
- dodobirdlord 7y agoThe intention of a land value tax (as this is called) is to zero out the component of property taxes based on improvements, but increase the component based on the value of the land itself. Whether this ended up being an increase or decrease in the tax rate would mostly depend on how improved the land was. If the land is very improved, this should end up being a reduction in taxes, and for mostly unimproved land it would be an increase in taxes. The intention is to encourage people who own unimproved land to either improve it or sell it to someone who will. https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax