24 Nov 2022 10:01 pm
Cannonpointer » 24 Nov 2022, 10:27 pm » wrote: ↑ Well, here's the thing about the thing.
The LVT is inevitably the most voluntary tax ever invented. NO ONE has to pay an LVT, ever.
If the government sets the rate too high, no one will use the land. It sits - fallow. Once the land comes under ownership, the LVT is set, and the game is afoot. The only detail-devil is in the valuation itself. The municipality puts in a bus line to serve the area, or a train line, the value is gonna go up at the next valuation. The rate does not change - but the value does.
If the valuation is set too high, there's flight, blight, and no winner - just losers across the board. Naturally, the valuation process will have appeals and arbitration built in, one assumes.
this is next level explanation of LVT. You are totally correct, but most ppl can’t wrap their head around it.
under LVT, the government would be the servant of the people. In our scheme, it’s the other way around