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That's a strawman. The difference in the taxes paid by a middle class homeowner under standard property tax schemes and LVT is much less than the difference in
by dwater 4y ago
That's a strawman. The difference in the taxes paid by a middle class homeowner under standard property tax schemes and LVT is much less than the difference in taxes paid by the parking lot owner. In practice LVT is usually set up so that a typical single family home owner pays about the same amount under either scheme. The person who will pay a significantly higher rate under LVT is the parking lot owner, who has a much less emotional argument for retaining their property, and at the expense of that one rentier the entire community benefits from encouraging more productive use of that land.
- hash872 4y agoI don't think that this is a correct model of how a high LVT would work. But more importantly, let's say it did- now you don't get any of the supposed 'efficiency' gains. I think LVTs are a great idea for a brand new society, and they certainly would work- by making land too valuable for SFHs, so that it has to be used for its highest & best usage. But if you're not forcing homeowners to do that, you're not capturing any of the efficiency gains, so LVT just becomes another tax. It's either forcing landowners to develop apartment buildings on valuable land or it isn't- you have to pick one
- kcplate 4y agoAhh yes, the “Trump Argument”. No thanks. https://www.theguardian.com/commentisfree/2015/aug/19/donald-trumps-eminent-domain-nearly-cost-widow-house https://www.theguardian.com/commentisfree/2015/aug/19/donald...