Search
A 19th-Century Property Tax Idea Is Back. Can It Revive a Blighted City?
The Georgists advocated shifting the tax burden from buildings to land. Today that would face major political hurdles, but there might be variations on the concept that could spur housing development and discourage land speculators.
> The Georgists advocated shifting the tax burden from buildings to land. Today that would face major political hurdles, but there might be variations on the concept that could spur housing development and discourage land speculators.
Australian housing wealth is meaningless, destructive and fundamentally changing our society | The Guardian
High-priced homes do not create wealth, Alan Kohler says, they redistribute it. Now financial success is largely a function of geography, not accomplishment
This op-ed details how housing has gotten faaaar more expensive over the past several decades but without corresponding wage growth, leaving it increasingly unaffordable. The author (correctly) argues that this is due to the rising land values, which does not represent true wealth creation and is rather simply a vehicle for wealth redistribution from the younger and working class to the older and landed.
The ‘Georgists’ Are Out There, and They Want to Tax Your Land | New York Times
Amid a crisis in affordable housing, the century-old ideas of Henry George have gained a new currency.
Non-paywall link: https://archive.is/umP8D
This article explains the recent re-emergence of Georgism, its origins, and the rising popularity of the land value tax as a solution to the housing crisis.
Detroit wants to be the first big American city to tax land value
If you tax blight, will you get less of it?
cross-posted from: https://kbin.social/m/Neoliberal/t/524431
> If you tax blight, will you get less of it?
Land value tax could make housing more affordable | Toronto Star
Any policy that makes housing affordable for Canadian residents generally will reduce property values for present homeowners.
Ten years ago Canada stole the American dream. Now the U.S. is taking it back.
A decade ago, Canada seemed to be pulling ahead of the U.S. economically. But our housing crisis has put the U.S. back in front, pulling further away.
cross-posted from: https://lemmy.world/post/3982249
> > The housing market is a prime example of poor management and a huge driver of Canadians’ inability to get rewarded for their work, he said. > > > Yan said in Canada, social mobility is becoming stagnant due to these factors, and that’s making the country a less desirable place to live. > > > Many experts agree, saying Canada is in a full-on housing affordability crisis. A recent Rental Housing Index report found that 18 per cent of renters in Vancouver and Toronto are spending at least half their income on rent and utilities, while about 40 per cent are spending more than 30 per cent of their income on it. > > > Canada has now surpassed the U.S. with higher levels of household debt to GDP, with the figures dropping south of the border over the last decade. But as housing unaffordability continues its march in Canada, and as the country already has the worst household debt load in the G7, such debt levels are expected to continue to climb further and income inequality to further increase.
Canada likely sitting on the largest housing bubble of all time: Strategist
The Canadian housing market is at high risk of unravelling, according to one expert.
The case for shifting taxes onto land
Land’s share in economies’ nonfinancial assets equals between 40% and 60%, and in the US currently equals over 50%. This constitutes a very large base for a non-distortionary tax. This column suggests that a 5-percentage point or larger increase in the tax rate on the value of US land, excluding bui...
> Land’s share in economies’ nonfinancial assets equals between 40% and 60%, and in the US currently equals over 50%. This constitutes a very large base for a non-distortionary tax. This column suggests that a 5-percentage point or larger increase in the tax rate on the value of US land, excluding buildings and equipment situated on the land, balanced by decreases in the tax rates on incomes from labour and from buildings and equipment (and in the limit by their complete elimination), would increase output by 15% to 25%.