this post was submitted on 06 Sep 2023
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It really depends on where the land is as it's based on value. If you are talking about replacing property taxes with land value taxes typically it's just a rate on the value but in this case it's just the land value so a higher rate but only applies to land. If you could figure out the total land value in your neighbourhood you could figure it out.
As for who is affected, single family homes on the outskirts probably see a drop in taxes while those in the inner city and vacant plots see a large increase.
So it disincentivizes living in an urban setting an penalized fixed income people already in those homes?
Not necessarily the first as long as it's done in land efficient way and the second if they are unwilling to move but otherwise yes.
Oh boy! I guess I see why people are against it. Probably should come up with a better plan.
Yeah you aren't wrong there. Figuring our a way to placated those groups is required to get it to be implemented.