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this post was submitted on 16 Oct 2024
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It does seem like it would be a reasonable tax scheme but it would have to be carefully balanced for the type of use for the land. It'd make sense to charge more for a factory making a lot of value for the economy compared to a high density residential building occupying the same area. I personally prefer mixed use zoning to make land use more efficient though so it'd be interesting to see how that'd go.
I think one of the benefits of Land Value Tax is that an empty lot costs as much as a highrise or factory. It heavily disincentivizes leaving a property undeveloped or poorly developed, like with parking lots or abandoned buildings.
That being said, it would also put pressure on underdeveloped properties, like your home on a street with rising property values. Some limitations would almost certainly be necessary.
This could also be solved with better zoning, but most of our social problems could be fixed with better governance of some kind. Land Value Tax is one of the proposed methods that would need less fixes to make work and (hopefully) be harder to co-opt for wealth extraction.
I'd accept trying anything though, instead of more tax cuts and funding cuts.
Yeah. I feel like people would get out and vote if they understood this.