Complex Systems with Patrick McKenzie (patio11) Tax the dirt, with Lars Doucet & Greg Miller
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Mar 13, 2025 Lars Doucet and Greg Miller, co-founders of the Center for Land Economics, dive into innovative solutions for property taxation. They discuss how taxing land instead of buildings can encourage equitable development. The duo critiques California's Proposition 13 and its effects on housing affordability. They advocate for modern assessment practices and the use of AI in property appraisals, highlighting the potential for technology to enhance fairness. Plus, they share strategies for citizens to engage with local tax assessments and promote change.
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Accuracy vs. Consistency
- Property valuation faces a trade-off between accuracy and consistency.
- Chasing sale prices increases accuracy but reduces consistency, leading to more disputes.
Problems with Sales Chasing
- Sales chasing is problematic in property assessments for several reasons.
- Not all properties sell regularly, making it hard to assess unsold properties based on recent sales.
Proposition 13 Impact
- Proposition 13 in California capped property tax increases, creating unintended consequences.
- It led to significant tax inequities between long-term and newer residents.
