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You can improve the land, build more units, replace an small old house with a 4 story apartment building, etc.
by jonahx 4mo ago
You can improve the land, build more units, replace an small old house with a 4 story apartment building, etc.
- estearum 4mo agoCorrect, which you should be rewarded for as a developer. I recommend 0% tax on improvements and 100% tax on land value.
- jonahx 4mo agoWithout land ownership, how is it decided who gets to develop what where?
- frankus 4mo agoThe most popular proposal (from Henry George) is to maintain individual land ownership, but impose a land-value tax that approaches 100% of the land rent. The result is that real estate basically sells for roughly what it would cost to rebuild whatever is built on the land. There is still a premium charged (in the form of LVT) to allocate access to desirable locations, but the revenue goes to the government/community instead of the previous owner. And the eliminating the incentive for land speculation should actually reduce overall costs.
- estearum 4mo agoI didn't say no land ownership. I said tax the gains of land ownership. Nothing changes about who decides what gets built etc.