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Land is taxed at very low rates, and it's almost always bundled with property taxes. Instead of taxing land at a few percent, Georgism says we should be taxing
by amablue 5y ago
Land is taxed at very low rates, and it's almost always bundled with property taxes. Instead of taxing land at a few percent, Georgism says we should be taxing it at 100%. That's a huge difference from what we have in play today.
- endisneigh 5y agoI don’t disagree - which nations have a 100% land value tax? Either way, increasing the tax or reforming zoning, the crux of the issue is political.
- zajio1am 5y ago> Instead of taxing land at a few percent, Georgism says we should be taxing it at 100%. Property tax percentages are from property value, while georgism is taxing 100% of imputed rent, not value. Relation between rent and price, as mentioned in the article, is described by capitalization rate, which is estimated to be 5-8%. So georgian LVT would be 5-8% of original land value.