In many cities, poor people occupy valuable urban land close to downtown jobs, amenities, and transit. They can afford to live there because the housing stock in inner areas is usually older. If it hasn't been completely renovated, the result can be quite cheap, even if the land is pretty … [Read more...]
Detroit: LVT would fix that
In a recent Mackinac Policy conference, Detroit's Mayor Mike Dugan proposed *drum roll* a land value tax. Sort of. Mayor Dugan’s proposal would create separate tax rates for land and capital improvements (i.e. the buildings on top). Specifically, he wants to decrease the tax rate on buildings by … [Read more...]
Land Value Taxation and Intertemporal Tradeoffs
Georgists assert that a Land Value Tax (LVT) ensures land is always put to its most efficient use. They claim that increased carrying costs deter speculation. And if valuable land is never held out of use, society is better off.I think the story about incentives is correct. But I question … [Read more...]
Visions of Progress: Henry George vs. Jane Jacobs
Henry George and Jane Jacobs each have an enthusiastic following today, including, I’m sure, some readers of The Freeman.For those who might not know, Henry George is the late-19th-century American intellectual best known for his proposal of a “single tax” from which he believed the … [Read more...]