> And not just that, but typical property taxes provide a disincentive to even improve your own property, since you'll pay more tax. They encourage blight.
A land value tax still does this, albeit indirectly. If you improve your property, the area gets marginally more desirable and land value rises.
The solution for this in UK is to remove capital gains tax for the main home of owner-occupiers, and a transaction tax (stamp duty) paid by the purchaser.
A land value tax still does this, albeit indirectly. If you improve your property, the area gets marginally more desirable and land value rises.
The solution for this in UK is to remove capital gains tax for the main home of owner-occupiers, and a transaction tax (stamp duty) paid by the purchaser.