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by lemoncucumber
6 days ago
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> Issue is what happens to retirees on a fixed income when value of their property increases? 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). |
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