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They can be privately owned and have the land value (unearned value, by definition) simply taxed away. Or you can have the government own the land but do long-
by estearum 5mo ago
They can be privately owned and have the land value (unearned value, by definition) simply taxed away.
Or you can have the government own the land but do long-term (99 year) leases, like they do in Singapore.
- smallmancontrov 5mo agoSingapore has the correct approach. Land Value Tax is the incorrect approach. LVT has the same vulnerability as property tax: owners can worm their way into the policy details and redirect the surplus back into their own pockets. Leases bypass this problem through the competitive bidding process.