Monday, August 19, 2013

Why we need a LVT

Empty home owners face ghost-town tax

Lack of taxation on housing sucks in (possibly foreign) investors to park their money, get capital gains and no incentive to occupy them. A perfect example where LVT makes sense

Posted by european-bear @ 12:37 PM (3844 views)
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7 thoughts on “Why we need a LVT

  • mark wadsworth says:

    A 50% surcharge on your council tax if you leave a million pound house standing empty? Is that really going to make any difference? These people spend that much on a round of drinks/

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  • How do they determine that a house is empty anyway?

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  • we need a new tax like a hole in the head.

    As a renter, the owner of ‘my’ home will pass on the tax to ME.
    Bring this new tax in, and they will retain all the old taxes. We will only end up poorer.
    The government will only use the money for socialism to European immigrants and to buy bombs to kill people in the Middle East.

    If you focus instead the limited time you have on this planet on eliminating stamp duty rather than calling for new taxation, there would be a boom in sales volume, increasing supply, actually reducing prices.

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  • Of course, ending taxation on interest from bank deposits will also help folk save a deposit.

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  • mark wadsworth says:

    Piddly, you’ve left two comments and managed to avoid saying a single thing which is correct or true or which any sane person would assume.

    Did you consciously set out to achieve that or does it come naturally?

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  • @5 ditto – not much in 3 and 4 that makes sense. Empty homes are by definition not rented out so how on earth can anything be passed on to non-existent tenants? And every empty house that gets nudged back into the rental sector will increase supply and hence reduce prices. Always good to have some Tuesday morning Liberty!

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  • mark wadsworth says:

    To reply to Mombers at 2: “How do they determine that a house is empty anyway?”

    Entirely unnecessary.

    Just tax every house as if it were a second home and then give every individual a personal allowance to claim as a deduction. So by and large, people in occupied houses don’t pay the tax, only people with second homes, vacant homes etc will have to pay it, as they will use up their personal allowance against the first home.

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