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I'm not arguing for subsidies or public housing. Just for a property tax that combines land value with property improvement using some reasonable formula that c
by seanmcdirmid 1y ago
I'm not arguing for subsidies or public housing. Just for a property tax that combines land value with property improvement using some reasonable formula that combines them. Increasing the share of property tax related to land value (it doesn't have to be zero percent) vs property improvement (it doesn't have to be zero percent either) can prevent shocks that avoid obliterating older housing stocks that traditionally serve as affordable housing, while still pushing for increasing density over time in popular cities (this will also act in the opposite way in cities like Buffalo that are less popular and land value tends to very cheap).
- kiba 1y agoThe whole point of increasing housing supply is to fix the affordability housing. All you're really doing is having rich people chase poorer quality housing in urban core area. You're also discouraging adding housing stocks by discouraging new construction. This is a nonsensical approach advocating for a normal property tax.
- seanmcdirmid 1y agoThere is a reason why pure LVTs that you are proposing are seen as nonsensical, the markets can't really keep up, and serious distortions occur.