Tax the land
One radical idea to solve America’s housing crisis.
https://www.vox.com/policy-and-politics/22951092/land-tax-housing-crisis
I’ve always felt that land zoned for residential without anyone living on it should be heavily taxed, and residential land should be exponentially taxed depending on the size of it.
I see all this empty land in the middle of large cities doing nothing because someone bought a few acres 20 years ago and they are just sitting on it waiting for the price to go up and up and up when someone else could be building housing on it.
If there was a good way to get states/counties/cities to communicate, I thought going to exponential taxation rates on properties would be useful.
First property has an exponent of 1. Second 2. Third 3. Etc.
Although, I’m not sure what that would do to something like my family’s farm. It’s somewhere around 200 acres, but not contiguous. There’s like 50 acres here, 40 acres there, 2 acres over there. It’s also one of the smaller farms in the area.
Perfect way to get yourself removed from your own house if the neighborhood becomes more expensive for any reason
That’s why you use the revenue derived to fund a UBI. Then, there would be a safety net, which could potentially be used to partially cover one’s land value tax obligations. As land becomes more valuable it is important that people use it more productively. Land value tax encourages building denser and reduces urban sprawl.
Many people rent housing. The key advantage of a land value tax is that landlords are unable to pass it on to tenants. They have to take the hit.
It doesn’t seem clear to me at all why landlords wouldn’t be able to pass the value on to tenants.
Can Land Value Tax Be Passed On To Tenants?
https://gameofrent.com/content/can-lvt-be-passed-on-to-tenants
As land becomes more valuable it is important that people use it more productively.
How would people be able to do that when they have a normal workplace? This sounds like having to work additional hours to be able to keep my home.
Land value tax encourages building denser and reduces urban sprawl.
Sorry but you sound like someone who wants to force people into panel housing, and I don’t want to participate in that.
Many people rent housing.
People who rent are damn close to being slaves. They don’t have existential safety. Their housing can be taken away by yet another party by any semi-arbitrary reason, and all their belongings are lost because where they put them?
Sorry but I can’t get behind any kind of land value tax idea. Not at least until it only applies to those having 2+ or such amount of properties, maybe further restricted related to family structure.
Land gets outsized representation (esp. in the US) so an idea would be that taxes should be levied proportionally.
