[lukifer]

> I'd argue that transitioning is an extremely hard problem.

While you're completely correct, I don't think this is a reason to abandon the enterprise (other extremely hard problems: sending a human safely to the moon; democratic rule of law; the elimination of slavery).

While I ideologically support the so-called "Single Tax" model, it is indeed extremely difficult to imagine how this would be implemented at the federal level (especially in our current gridlock climate). I'd instead advocate going the other direction, and implementing it locally: property taxes already exist at the level of states and municipalities. These local taxes can gradually migrate to being calculated based on unimproved value, rather than including improvements. This can include whatever necessary carve-outs to reduce unintended side effects (grandfathering existing owners, partial exemptions for owner-occupancy and retirees, etc).

Under any model, the real tension is the zero-sum game between existing owners, and aspiring owners: the former want property values to go up, the latter want property values to go down. (We see the same dynamics at play in zoning laws, NIMBYism, etc.) As with any perverse incentive, or institutionalized rent-seeking, reform is extremely difficult, but by no means impossible.

[TimPC]

I'm hesitant to implement locally without changes at larger levels. I feel like the system depends in a fundamental way on the removal of sales and income taxes on individuals to account for the increase in taxation for less improved land. Without the changes in the other forms of taxation I feel the change in property tax amounts to a wealth transfer from homeowners to condo developers.

[geocon]

I think you have a mistaken view of who is actually making money in this equation. Developers do not make all that much money from building housing, which is actually a productive contribution to society. Homeowners, on the other hand, make hand over fist by simply sitting on land absorbing rents: https://pbs.twimg.com/media/EyJN_g3UUAIW0f0?format=jpg&name=...

https://www.wsj.com/articles/homes-earned-more-for-owners-th...

[TimPC]

The top five developers in my area have seen their market value rise over 30% in the last five years. Most of the development in my area is one of the top five. I’d like a better source for saying developers aren’t making money in big markets where land value goes up quickly.