Episode 404: The Public Wealth of Cities
Talking Headways: A Streetsblog Podcast
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The Land Tax System Is a Hybrid of Rental Interest and Ownership Interest
The system is like a very interesting sort of hybrid of rental interest and ownership interest held by the possessor of the license. If you increase the fee that the license holder has to pay during the period that they own it, it starts to look more like a rental interest. And if you decrease the fee then it starts to looks more like an ownership interest. What this allows you to do basically is to get entrepreneurs to put their collective intelligence to work on how best to use land and space but also to ensure that the movement in the price over time is resulting in a higher stream of payments to the public.
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