Tuesday, July 27, 2010
LVT case study
The last paragraph spells out the LVT case clearly: "homeowners in the neighbourhood have more substantial reasons to be glad the Games are coming to London, But homeowners and taxpayers elsewhere may not share their joy â€“ although all of us will certainly share the costs." How would LVT deal with the Olympics? Raising taxes on people who just happen to own property near the Olympics doesn't really seem right. Imagine being disinterested in sports yet getting a big LVT tax raise for Olympics infrastructure improvements. Perhaps part of the problem is that substantial sums of centrally raised taxes are being injected into a small part of the country leading to economic distortions including a local property boom.