> Consider a system where property owners themselves specify what the value of their property is, and pay a tax rate of, say, 2% of that value per year. But here is the twist: whatever value they specify for their property, they have to be willing to sell it to anyone at that price
Valuing an asset takes work. The process consumes resources. There is a reason we have brokers for assets where one needs someone standing ready to auction. Making this proposal belies a fundamental misunderstanding of the history of markets.
Valuing an asset takes work. The process consumes resources. There is a reason we have brokers for assets where one needs someone standing ready to auction. Making this proposal belies a fundamental misunderstanding of the history of markets.