Wednesday, November 24, 2010
IFS sets out the case for Land Value Tax
A bit wordy, and they make the whole valuation thing seem more complex than it really is, but hey. As to valuations, let's just base it on average (total selling prices in recent years Ã· size in square yards of land and buildings sold) for each smaller area (postcode sector, 3,000 addresses?) and have done with it. It'd be Â£30/sq yd in Burnley, Â£40 to Â£70 in most parts of the country and about Â£1,000 in Central London. There's no need to worry about "bricks and mortar allowance" because each household could also be paid a Citizen's Income that would more than cover the bricks and mortar cost (repairs, interest, depreciation, insurance, utilities etc). That'd do to replace income tax, VAT, Council Tax etc and the whole Welfare State.