4 ms·
Developed land does not have to bring revenue (or even profit). May I not have just an illiquid house on a plot of land and no other assets?
by SnowHill9902 5y ago
Developed land does not have to bring revenue (or even profit). May I not have just an illiquid house on a plot of land and no other assets?
- chii 5y ago> I not have just an illiquid house if you live in it, then a land value tax is equivalent to the state charging you a tax on the imputed rent you receive from owning your own abode. If you don't live in it, but rent it out, then that's self explanatory - you use the rental income to pay the tax. If you don't rent it out, then it's your loss as you have to pay the tax out of pocket. This means you will need to rent it out.