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The answer is that he could still afford to live there just no longer as an owner of that much land. In a city with a land value tax the rental or condo market
by Game_Ender 5y ago
The answer is that he could still afford to live there just no longer as an owner of that much land. In a city with a land value tax the rental or condo market would be much more dynamic so he would be able to find and affordable option their.
- valenterry 5y agoI don't think that's how it works. Maybe in the beginning that's true, but once things have settled, an increase in land tax also means an increase of rents. Even though for high buildings this increase is split, it still has an effect. And, if the building is really tall and the tax split across many parties, it also means that the tax will be very high, since you wouldn't build such a tall building on land that isn't very valuable. In the end the OP has a point. And even if this point alone is certainly not major and would ve a reason to drop the concept of a land tax, it's also relevant enough to warrant a serious discussion about it imho.