4 ms·
I think the group that is capturing the most value is actually landlords, followed by speculators. I also agree that 90% LVT may be better in practice, although
by TimPC 4y ago
I think the group that is capturing the most value is actually landlords, followed by speculators. I also agree that 90% LVT may be better in practice, although I do know people who still argue for 100% and various auction mechanisms to determine the LVT.
- MiddleEndian 4y agoAs much as I think LVT makes sense, having to go to some sort of annual auction for my own land does seem worse than just paying taxes. Along with that being a tedious process, that could put you at the mercy of malicious actors who may just dislike you and have enough cash to outbid you. Any implementation would have to not include this for people to be able to have stable lives.
- imtringued 4y agoA yearly auction is overkill. Do it every 5-10 years with a fee the longer you delay the next auction. (Like banks charge more interest the longer a fixed rate loan is)
- MiddleEndian 4y agoEh still sounds pretty terrible really. The assessment people should be able to figure it out however they normally figure out taxes.
- zozbot234 4y agoYou could use "auctions" to capture that residual value if those were long-term land leases. But you'd still want to assess and tax land rent afterwards, because in practice high-stakes leases have proven vulnerable to government corruption.
- imtringued 4y agoSilvio Gesell proposed an auction mechanism but I honestly don't care about the details. You can lease land. Tax it or auction it off. There are so many good enough solutions that one does not have to be picky.