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> I now owe 2.5% of these sky-rocketing property values every year Just as a UBI gives people an income floor, I think that a land tax should come with a perso
by dane-pgp 6y ago
> I now owe 2.5% of these sky-rocketing property values every year
Just as a UBI gives people an income floor, I think that a land tax should come with a personal allowance below which you are exempt.
To do some rough calculations, the US state with the highest population density is New Jersey, at 1,210.1 people per square mile, which equates to 23,038 square feet per person. The average American house size is apparently 2,687 square feet, which is typically shared by multiple people, so the allowance could be comfortably set to maybe 10,000 square feet per person.
- neilparikh 6y agoThe key thing about a land value tax is that it's based on land value, and not land area, so the allowance should also be based on value and not area, for it to work right. 10,000 sq ft in Manhattan is much more valuable than 10,000 sq ft in a rural area, and so it doesn't make sense that both should be treated equally.