3 ms·

There are holes regardless. Imagine a railway line/station is built 10 mins walk from me. I'm not interested in the railway line. So I rent out my home and us

by throwaway22032 4y ago

There are holes regardless. Imagine a railway line/station is built 10 mins walk from me. I'm not interested in the railway line. So I rent out my home and use the proceeds to buy or rent a larger one in a different location without said railway line. Trying to capture that value I think would result in some sort of weird rent control / rent tax central planning nightmare that would have pretty bad side effects. It'd probably end up looking a bit like California's Prop 13(?) where people just stay put.

cheriot 4y ago
I'll be the LVT guy https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax
- deleted 4y ago
  [deleted]
- pas 4y ago
  The thread was started by Lars who wrote a book on LVT recently but apparently did not want to mention it :D https://twitter.com/larsiusprime/status/1571947781874454533 https://twitter.com/larsiusprime/status/1571947781874454533
- throwaway22032 4y ago
  Yeah, you could do that. Personally I don't want to live in a society in which homeownership is not possible. I could get behind an LVT on holiday homes, second parcels of land, etc. I wouldn't like it, but I can see why it may be needed. But a primary residence being subject to an annual tax which can change and outstrip the ability of the owner to pay just means that there's no meaningful way to build stability. I think that's a pretty awful side effect of a flat LVT on everything; I'm invested in my neighbourhood and improving it based on the fact that it's actually mine for life (rather than being temporarily mine).
  - maccam94 4y ago
    How stable should property ownership be in an area experiencing growth? I think this could be tunable with short term price increase caps that expire 5-10 years out, and reset when the property is sold or the owner starts paying the full market LVT again.

cheriot 4y ago

I'll be the LVT guy https://en.wikipedia.org/wiki/Land_value_tax https://en.wikipedia.org/wiki/Land_value_tax

deleted 4y ago
[deleted]
pas 4y ago
The thread was started by Lars who wrote a book on LVT recently but apparently did not want to mention it :D https://twitter.com/larsiusprime/status/1571947781874454533 https://twitter.com/larsiusprime/status/1571947781874454533
throwaway22032 4y ago
Yeah, you could do that. Personally I don't want to live in a society in which homeownership is not possible. I could get behind an LVT on holiday homes, second parcels of land, etc. I wouldn't like it, but I can see why it may be needed. But a primary residence being subject to an annual tax which can change and outstrip the ability of the owner to pay just means that there's no meaningful way to build stability. I think that's a pretty awful side effect of a flat LVT on everything; I'm invested in my neighbourhood and improving it based on the fact that it's actually mine for life (rather than being temporarily mine).
- maccam94 4y ago
  How stable should property ownership be in an area experiencing growth? I think this could be tunable with short term price increase caps that expire 5-10 years out, and reset when the property is sold or the owner starts paying the full market LVT again.