Comment by socalgal2
2 days ago
The first time I heard about a Land Value Tax it sounded great. You can then go read where it's been tried and find that it's extremely hard to implement.
As just one example, if I place becomes popular then suddenly the taxes rise and people have to move out. Lots of people hate that idea and so vote it away. And then LVT no longer works.
This is what already happens. While not via taxes, the COL already rises with how nice a place becomes.
Do the taxes rise because an increase in rate or the underlying value. If it is the value then cry me a river.
I am a friendly guy and good neighbour. People want to be near me. The value of land in my area rises.
Now I have to pay for my own kindness.
lmao economists, really