In their current form, our property taxes discourage much-needed new housing—while doing little to deter those who are actively hoarding land and homes. We need an overhaul if we’re serious about housing affordability, and luckily, we don’t have to look far for the answer.
Disagree.
Shouldn’t tax new builds, but tax vacant, capital gains and land banking.
Holding needs to become less profitable as an investment, but more profitable to build. Make taxes come in 5 years after a new build or something similar
Did you read the article? They’re proposing a land value tax which would discourage exactly these things.
Land value tax would apply regardless of if it is developed or not. Therefore people who hold land would be encouraged to either develop it, rent it or sell it - resulting in less vacant homes, more developed property and increased land surplus (therefore lower value of land).
isn’t this a good outcome? You and the authors are arguing for the same thing, a land value tax. I don’t understand where the disagreement is
I think we might be