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It typically won't apply under conventional property tax regimes. Two common protection are: 1: your rate is based on a sampling of similar houses, not the new
by WillPostForFood 1y ago
It typically won't apply under conventional property tax regimes. Two common protection are:
1: your rate is based on a sampling of similar houses, not the newest most expensive neighboring house.
2: your rate of increase is capped, so you are insulated (not immune) from rapid change
- larsiusprime 1y agoI mean couldn't you do the same thing in a property tax where the buildings are exempted (ie, a Land value tax)?
- bpt3 1y agoSure, it's possible in theory. The purpose of a LVT is to capture as much property value for the government as possible. Anyone advocating for it is unlikely to recommend exemptions that would interfere with that purpose.