4 ms·
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 al
by 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.