Re: Manhattan Land values
- --- 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 criterionThe 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.
> that LVT works best in countries with no previous market in land would have obtained ;
> 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