Sunday, May 25, 2014
Developing a proper solution to the housing problem
"The two main choices were a tax on the full value of the property (buildings and land) or a tax on the value of just the land. Those of us who argued for a land value tax did so precisely for this reason. The right kind of tax is not just a way of raising revenue, it is a way of delivering outcomes society wants." "We could scrap all the various developer contributions, levies and charges, we could also scrap industrial and commercial rates, stamp duty on properties and, of course, the local property tax and replace them all with a single unified land value tax that raised the same revenue and stimulated building where it is viable."