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The usual advocacy point is to reduce most of the other taxes and send the LVT way up. "We should have a land value tax" is usually meant to mean "most tax shou
by Smaug123 5y ago
The usual advocacy point is to reduce most of the other taxes and send the LVT way up. "We should have a land value tax" is usually meant to mean "most tax should be on land".
- tengbretson 5y agoWouldn't this accelerate the displacement of less wealthy home owners in neighborhoods that are being gentrified?
- shiftpgdn 5y agoMany counties in Texas have solved this by setting a 10% maximum year over year increase in property/land tax for people LIVING in their homes. There are also locks and exemptions carved out for those over 65 and disabled veterans.
- krferriter 5y agoYeah there should be exemptions (i.e. standard deductions) to help low-income people (retirees with low savings, such as those dependent on social security or disabled, etc) and for people's primary residence. What we don't want is a 50 year old who fully owns a $2 mil house and has $15 mil in the stock market and $1 mil in cash to be exempted from most property tax, but a 30 year old with $200k total assets to be on the hook for the full property tax rate. That doesn't make sense.
- fshbbdssbbgdd 5y agoIt will incentivize construction of dense housing, which distributes the same amount of land tax over a larger number of residents. People get displaced by gentrification because current policy encourages landlords to hoard old structures instead of building as much as possible.