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by pydry
1382 days ago
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It has everything to do with tax - specifically prop 13 which DEtaxed land and led to California's ridiculously inefficient land use. Those property owners with $3 million houses will do everything in their power to prop their value up. That means inhibiting high density development. That means pretending a laundromat is "historic". With a 100% LVT their houses arent worth $3 million theyre worth exactly as much as an equivalent house in Omaha. There is no point in NIMBYing to inhibit housing with stupid shit like pretending a laundromat is a historic building. Inhibiting development wont drive up property prices. Change those laws and others will be abused. But those people with $3 million houses will do ANYTHING to prevent an LVT. |
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> With a 100% LVT their houses arent worth $3 million theyre worth exactly as much as an equivalent house in Omaha.
and this is just wrong.