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by pfisherman
7 days ago
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I think land value tax is misguided. Issue is what happens to retirees on a fixed income when value of their property increases? Are they forced from their home to lower priced area? Regardless of how one might feel about the morality of that it is also worth asking whether this might create perverse incentives to become landlords? |
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That’s not specific to a land value tax, the same thing can happen with traditional property taxes when the property is re-assessed.
California tried to “solve” exactly that scenario with Prop 13 limiting how much the assessed value of property can increase without a change in ownership and it’s been a disaster (and a contributing factor to the housing crisis, albeit far from the only one).