Tax the land
One radical idea to solve America’s housing crisis.
https://www.vox.com/policy-and-politics/22951092/land-tax-housing-crisis
Tax the land
One radical idea to solve America’s housing crisis.
https://www.vox.com/policy-and-politics/22951092/land-tax-housing-crisis
I’ve always felt that land zoned for residential without anyone living on it should be heavily taxed, and residential land should be exponentially taxed depending on the size of it.
I see all this empty land in the middle of large cities doing nothing because someone bought a few acres 20 years ago and they are just sitting on it waiting for the price to go up and up and up when someone else could be building housing on it.
If there was a good way to get states/counties/cities to communicate, I thought going to exponential taxation rates on properties would be useful.
First property has an exponent of 1. Second 2. Third 3. Etc.
Although, I’m not sure what that would do to something like my family’s farm. It’s somewhere around 200 acres, but not contiguous. There’s like 50 acres here, 40 acres there, 2 acres over there. It’s also one of the smaller farms in the area.
I like this very much! I’ll bring this up to my mayor next time I see him. Big thank.
This is generally the case, homeowners are exempted from a significant amount of tax if it is their primary residence.