3 ms·

> Where does the average person have most of their wealth stored by retirement? Their house and the land it’s on. Wouldn’t this be expected to change if LVT we

• alistairSH 1y ago
  Yes. The whole point is to prevent land from being an unproductive store of wealth. Also, there's no reason we can't retain an income tax or some other tax alongside a LVT. As noted, it's common to have partial LVT - in my county, the property tax is a combo of building and land. IIRC, my little lot of valued at ~$200k and the building at ~$400 (on a house I could sell tomorrow for $700k+). On my 1500sqft lot, that's $133sqft. Which, looking at recent listings, is about 1/3 the value of infill lots in the area. It's not a perfect comparison - the infill lots are much larger and have different zoning.