4 ms·
I only give away the land, not the property on it. I assume in the real world we'd get some financial engineering to holding companies and peppercorn rents and
by Ntrails 2y ago
I only give away the land, not the property on it. I assume in the real world we'd get some financial engineering to holding companies and peppercorn rents and so on - but as with every other tax there is a simply an inflection point where receipts drop to zero (if you tax income at 100%, people will simply stop working).
- spaced-out 2y agoIf you give away the land to someone else, but still own the building on it, the person you gave the land to would have to pay land value tax and they would pass that onto you in rent.
- Ntrails 2y agoBy definition the land has a market value of zero because that is what was paid for it Who would pay money for an asset with zero returns at all (or indeed negative returns due to a bunch of administrative costs)
- jusssi 2y agoRest assured, if you can extract value from something, the tax office won't value it at zero. Neither does the market, btw.