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How come Georgism (land value tax) never caught on?
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this post was submitted on 19 Oct 2024
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It's a very specific system where government revenue comes from a tax on the value of land (and not even on improvements on that land, so a mansion on land wouldn't be taxed, for example).
Most countries have some form of property tax. IIRC the UK is the only G7 country that doesn't, has a mostly-flat-rate council tax, though they do have a transfer tax on sale of real estate. But property tax isn't a land value tax, and having one doesn't make a country Georgist.
I'm fairly confident that there are no countries that have gone for deriving their revenue from a land value tax.
The tax that I'm talking about is calculated on the value that has been attributed by the cadastre. You pay it when you own the property without having a building or any other land use on site.
Then, when there is a building on the plot that isn't being used as intended you get taxed on that. The rate is increased by 100% every year with a maximum of 4 increases resulting in a maximal tax of 500% of the base tax.
This is besides from the standard property tax that makes up an average of 50% of municipalities incomes. There are municipalities in Belgium they get up to 90% of their working funds out of those taxes.