Taxation based on realised employment income is more progressive. Any taxation based on unrealised gains/value is regressive, because it will be levied against people who may not have the income to support the taxation.
And yes, forcing people to move also costs money and can be seen as an extra levee against poor people who need to move to accommodate your new taxation model.
Proponents of LVT really hate poor and retired people, and tend to make up reams of excuses when this is put to them.
That might actually be the goal, to remove the last remaining poor people from gentrifying neighborhoods. All you have to do is build more expensive services, and subject the land to a new valuation and there you go, self removing poor people from your rich neighborhood.
Taxation based on realised employment income is more progressive. Any taxation based on unrealised gains/value is regressive, because it will be levied against people who may not have the income to support the taxation.
And yes, forcing people to move also costs money and can be seen as an extra levee against poor people who need to move to accommodate your new taxation model.
Proponents of LVT really hate poor and retired people, and tend to make up reams of excuses when this is put to them.
That might actually be the goal, to remove the last remaining poor people from gentrifying neighborhoods. All you have to do is build more expensive services, and subject the land to a new valuation and there you go, self removing poor people from your rich neighborhood.