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Re: Manhattan Land values

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  • roy_langston
    ... It would be nice. ... China had land price inflation long before it had exemptions or its experimental property tax, which is essentially a pilot program
    Message 1 of 8 , Mar 20, 2013
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      --- In LandCafe@yahoogroups.com, David Reed <dbcreed@...> wrote:

      > What you need is some of those new fangled exemptions ,hein?

      It would be nice.

      > Especially those that you get in some parts of China where "most homes appear to be entirely exempt" (And there's never a hint of property price inflation either! ).

      China had land price inflation long before it had exemptions or its experimental property tax, which is essentially a pilot program in just two cities. To blame the exemption for any part of China's land price inflation is therefore absurd, dishonest, and anti-scientific nonsense.

      > Otherwise you're going to get stiffed with a million dollar LVT Bill.

      Maybe someday.

      > Or you could opt for the from- here-on form of LVT that taxes any further increases.

      Which consequently don't occur. I would rather opt for the from-_then_-on form of LVT that taxes further increases over the purchase price: LVT + RPE.

      > (And would have worked a treat in China where the Mill family criterion
      > that LVT works best in countries with no previous market in land would have obtained ;

      The Mill family was wrong. No market --> no accurate land value to tax, a situation that most certainly obtained in China when it began its transition to a market economy 35 years ago.

      > Fred Harrison tried to point out the perils of the land market to countries emerging from Communism.)

      Did he suggest a UIE?

      > Keep us posted how you get on calling for (Don't-worry-you- won't-have-to pay) LVT in your area.

      Roger.

      -- Roy Langston
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