What do you think of Land Value Tax (LVT)

[Mahkato]

Land Value Tax on Wikipedia

A land value tax (or site valuation tax) is a levy on the unimproved value of land. It is an ad valorem tax on land that disregards the value of buildings, personal property and other improvements. A land value tax (LVT) is different from other property taxes, because these are taxes on the whole value of real estate: the combination of land, buildings, and improvements to the site. An LVT does take into account the effect on land value of location, or of improvements made to neighbouring land, such as proximity to public works or a shopping complex.
Although the efficiency of a land value tax has been known of since Adam Smith,^[1] it was perhaps most famously promoted by Henry George in his best selling work ‘’Progress and Poverty’’ (1879). George argued that the value of land was created by the community, and therefore its rent belonged to the community.^[2]
Land value taxes have been implemented in Taiwan (Republic of China), Hong Kong, Singapore, Russia and Estonia, as well as in some localities in the American state of Pennsylvania, the Australian state of New South Wales and Mexicali, in Mexico. The government of the Republic of Ireland is considering the introduction of an LVT.

[Dr.3D]

I don't like a tax where if unpaid, they can take your land. It's my land, and they should have no power over any of it. All property taxes should be abandoned.

[JackieDan]

I say: eliminate all taxes, and then institute a nation wide sales tax of 5 %. That would be enough to fund government.

[wizardwatson]

I've read Progress and Poverty and I think George's reasoning is sound. It's a tax on rent which, if you understand the Law of Rent, I think is much more fair than some sort of flat sales tax. A sales tax punishes the consumer more than the producer.

I take George's idea even further. I think there should be a flat tax on wealth itself. This to me, after all I've looked at, seems to me the most fair. You could tax people on their average daily/monthly/yearly net worth. This would allow a flat percentage to be taken from everyone equally and wouldn't be a burden on the lower class any more than the upper class and producers.

The only problem with this is the difficulty in enforcing fairly. Perhaps we could just start with measuring real property/assets and also on your average daily bank balance.

I've said this elsewhere on the boards and many disagree saying that you shouldn't get taxed on what you already own, so they think a flat sales tax or import tax or whatever is more fair. I disagree.

[Travlyr]

I don't like a tax where if unpaid, they can take your land. It's my land, and they should have no power over any of it. All property taxes should be abandoned.

Secure in their possessions. It is fundamental to liberty.

[donnay]

I don't like a tax where if unpaid, they can take your land. It's my land, and they should have no power over any of it. All property taxes should be abandoned.

Absolutely!

[Tod]

I agree 100%. Property tax is even worse than an income tax. I can't think of a worse form of taxation than one that can result in your home being confiscated.

[Napoleon's Shadow]

Taxation = theft

[donnay]

I agree 100%. Property tax is even worse than an income tax. I can't think of a worse form of taxation than one that can result in your home being confiscated.

As it stands right now, property owners are just glorified renters to the state. The American Dream is an illusion, so long as there is a tax on ones property.

[erowe1]

I don't like a tax where if unpaid, they can take your land. It's my land, and they should have no power over any of it. All property taxes should be abandoned.

What makes it your land?