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All costs are transferable. So, whether you rent or own, you will pay property tax -- just like today. In my hometown, one prominent landlord sent out letters
by ShabbyDoo 17y ago
All costs are transferable. So, whether you rent or own, you will pay property tax -- just like today. In my hometown, one prominent landlord sent out letters to his tenants telling them that, if an upcoming school levy passed, their rents would be raised. The same transfer goes for commercial property as well. If the "single tax" was levied, one conceivably could compute the portion of the cost of a gallon of milk attributable to the cumulative taxation through the supply chain.
My issue with property taxes is that the government gets into the estimation business. I'd prefer a sales tax because it seems less likely to distort market behaviors and is less susceptible to political manipulation.
- yummyfajitas 17y agoRegarding renting, there is a huge problem with that in many eastern states: rent control. As for estimation, we can create good incentives. If the government estimates the value at X, and you can't sell it for at least 95% of X (lets say in 6 months), then the government must buy it at X. (Not that I expect this to ever happen.)