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You don't understand correctly. LVT is basically just property tax that doesn't assess the structure that's built on the land. So, land near a subway stop or bu
by scld 4y ago
You don't understand correctly. LVT is basically just property tax that doesn't assess the structure that's built on the land. So, land near a subway stop or bus terminal or downtown offices would be taxed higher as compared to land in the outskirts of town or in suburbs.
You are thinking more of something like Glen Weyl's Radical Markets proposals.
- bko 4y agoGuess I got some terms mixed up. Thanks for clearing that up. My taxes are assessed as land and property, with the majority of the valuation coming from the land. Is LVT a big departure from what we currently have in most US states?
- colinmhayes 4y agoA "true" LVT calls for land tax rate of around 80% and getting rid of all other taxes. It's a huge change from how property taxes currently work.