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Yeah, that's correct. But property tax also taxes improvements that the owner made themselves. This disincentivises improving land too much. The whole thing w
by kaashif 4y ago
Yeah, that's correct.
But property tax also taxes improvements that the owner made themselves. This disincentivises improving land too much.
The whole thing with Georgists and a land value tax is that it's specifically unearned wealth due to increases in unimproved land value that are taxed more.
- nemo44x 4y agoThe idea is the more and better improvements your property has the more you can afford to pay. I figure 50% of the reason they want a permit for any little thing is to ensure the tax assessor has a fresh view of the current state of improvements!