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http://www.guardian.co.uk/lifeandstyle/2011/aug/07/tim-adams-who-owns-britain

Who owns our green and pleasant land?

Britain's biggest estates are falling into the hands of Russian oligarchs hankering after their own slice of Brideshead Revisited. As another £100m home is put on the market, Tim Adams wonders if the rest of us will ever see over the castle wall

It's not on rightmove is it?

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http://www.guardian.co.uk/lifeandstyle/2011/aug/07/tim-adams-who-owns-britain

Who owns our green and pleasant land?

Britain's biggest estates are falling into the hands of Russian oligarchs hankering after their own slice of Brideshead Revisited. As another £100m home is put on the market, Tim Adams wonders if the rest of us will ever see over the castle wall

It's not on rightmove is it?

Land tax would sort out all lot in this country. :ph34r: Germany got it. Is not so much 1/5 of an acre approximately £ 300 pound a year.

But hey who has to pay the most? and with Lords and MP voting for new tax law who will hope? :angry:

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Land tax would sort out all lot in this country. :ph34r: Germany got it. Is not so much 1/5 of an acre approximately £ 300 pound a year.

But hey who has to pay the most? and with Lords and MP voting for new tax law who will hope? :angry:

At a fixed level I hope no-one will vote for it. It must be a land value tax, not a land area tax.

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At a fixed level I hope no-one will vote for it. It must be a land value tax, not a land area tax.

Unfortunately, it's really hard to value land properly except by selling it in an open market arms-length transaction. And it's pretty rare for land to change hands separately from the properties that are built on it. That makes it hard to tax land values.

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Unfortunately the planning permission aspect of it allows land to be held cost effectively and undeveloped. It sort of encourages hoarding. That aspect also needs to be addressed.

So land value reflects planning permission. Where's the problem? Built-on land value tax kicks in when pp is granted, or maybe subject to a limited grace period.

It's land value, not building value, that should matter. It would be perverse to charge more because someone improves a house (at least, without expanding it or somesuch).

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Unfortunately, it's really hard to value land properly except by selling it in an open market arms-length transaction. And it's pretty rare for land to change hands separately from the properties that are built on it. That makes it hard to tax land values.

Indeed. I am not aware of any country with a land value tax, I imagine for that very reason. Most have some form of property tax (like UK with council tax, or better versions where tax is linked directly to value), these usually only apply to commercial or residential areas. Large land areas used for agriculture are usually excluded or tax independently.

Ultimately LVT will barely affect the cost of accommodation though.. it is simply a transfer of tax burden from income to property ownership. The only things that will effect property values are the number of properties, the number of people and their ability to pay. The first can be addressed by expanding city perimeters into green belt, the second can be controlled with managed migration, the third by managing people's ability to borrow money against their income. All of these have issues associated with them.. all are a political mine field.

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Indeed. I am not aware of any country with a land value tax, I imagine for that very reason. Most have some form of property tax (like UK with council tax, or better versions where tax is linked directly to value), these usually only apply to commercial or residential areas. Large land areas used for agriculture are usually excluded or tax independently.

Ultimately LVT will barely affect the cost of accommodation though.. it is simply a transfer of tax burden from income to property ownership. The only things that will effect property values are the number of properties, the number of people and their ability to pay. The first can be addressed by expanding city perimeters into green belt, the second can be controlled with managed migration, the third by managing people's ability to borrow money against their income. All of these have issues associated with them.. all are a political mine field.

France has a wealth tax which includes land, at the upper rate you are taxed at 1.8% of your total global assets each year (which is a bit of a bummer in a low inflation environment). It ensures that land/wealth needs to be productive to tread water.

00 http://www.french-pr...ealth-tax/rate/

Edited by AteMoose

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Unfortunately, it's really hard to value land properly except by selling it in an open market arms-length transaction. And it's pretty rare for land to change hands separately from the properties that are built on it. That makes it hard to tax land values.

It seems pretty straight-forward to me. The LVT agency works out a price per square metre for land in a particular post-code area depending on its zoning type. Agricultural land being less, industrial, commercial and residential more etc. This price could be reviewed periodically with local consultation.

A house, for example a three bedroom mid-terrace over 2 floors, is pretty much the same whether it's situated in Merthyr Tydfil, Manchester or Mayfair. The thing that makes the instance of this property situated in Mayfair worth more than the one in Manchester or Merthyr is the fact that it is in a prosperous part of London, the cost of the parts and labour to construct all three will be broadly the same. To calculate LVT, all you need to do is work out the whole value of the property and subtract the house part and you get the land part which is the bit you tax.

This would have the effect that houses in good decorative order would not be liable for more tax than houses in a poor condition.

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It seems pretty straight-forward to me. The LVT agency works out a price per square metre for land in a particular post-code area depending on its zoning type. Agricultural land being less, industrial, commercial and residential more etc. This price could be reviewed periodically with local consultation.

A house, for example a three bedroom mid-terrace over 2 floors, is pretty much the same whether it's situated in Merthyr Tydfil, Manchester or Mayfair. The thing that makes the instance of this property situated in Mayfair worth more than the one in Manchester or Merthyr is the fact that it is in a prosperous part of London, the cost of the parts and labour to construct all three will be broadly the same. To calculate LVT, all you need to do is work out the whole value of the property and subtract the house part and you get the land part which is the bit you tax.

This would have the effect that houses in good decorative order would not be liable for more tax than houses in a poor condition.

We need an annual property value wealth tax.

It would work like this :

Below £100k Exempt

Then starting at £100,000 1% of value per annum and progressive e.g. £140,000 1.4% up to £1million 10%. Any values above that levied at a flat 10% P.A. Would raise enough to replace council tax and clobber multiple house owners.

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  • 333 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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