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The economy is not a zero sum game. If a land tax leads to increased economic activity it can actually result in a lower tax rate and generate more than enough
by gnopgnip 3y ago
The economy is not a zero sum game. If a land tax leads to increased economic activity it can actually result in a lower tax rate and generate more than enough tax to pay for the services the government provides.
- PaulDavisThe1st 3y agoCould you provide some examples of where this has happened?
- gnopgnip 3y agoYes, Japan, Korea and Signapore are examples where a more efficient property tax system led to a huge economic expansion. Japanese Land Tax Reform of 1873 is probably the most well known example. It also involved lowering property tax rates.
- xienze 3y agoDo you think this would actually happen in a place with as inefficient and corrupt local government as Detroit? Be honest.
- jimmyk2 3y agoMy guess is that the Illitch and Gilbert tax bills are about to plummet as their highly improved and revenue generating properties get averaged out with 1950’s mid rises. Bonus points if we can crank up the tax bill on families which inherited their home but never had the money to make improvements.
- gnopgnip 3y agoDetroit probably has more to gain from more efficient land use from a property tax perspective because of it's history of corruption and inefficiency