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What Is the Land Value Tax?
At the moment we have a property tax which is basically a tax on the structure, on the land that you own. So by doing that, you're try to better aline the incentives so that people are going to want to build on the land rather than just leave it alone. But an in practice, our taxes tend to skew towards equity concerns over efficiency concerns. Theres 's a bit of a problem in terms of application of real estate. If you're not taxing the land, thereis revenue to be gained from taxing the value of land. You could put that money towards building more properties. Instead of havinga land just at is, like a golf course or something, you