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Re: [carfree_cities] local optimization

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  • Richard Risemberg
    ... Land-value taxation--the Henry George type of thing--encourages building by taxing the values that accrue to property from both private and public
    Message 1 of 3 , Jun 1, 2006
      -----Original Message-----
      >From: Sean Brooks <seanbrooks@...>
      >Sent: Jun 1, 2006 8:15 AM
      >To: carfree_cities@yahoogroups.com
      >Subject: [carfree_cities] local optimization
      >
      >
      >I agree wholeheartedly, but would like to point out that *part* of the
      >problem is allowing landowners to collect the benefit of public
      >infrastructure (transit, schools, public safety, utilites, etc.) in the form
      >of increased rents or increased land values. Each of these public
      >investments increases the value of land in it's cachement area, and is not
      >necessarily recaptured in increased property, income, sales, or other taxes.
      > The one tax that does directly capture this increase in value, the
      >property tax (assessed against land values) is also, unfortunately, assessed
      >against building values - in fact punishing those who would build more.
      >
      Land-value taxation--the Henry George type of thing--encourages building by taxing the values that accrue to property from both private and public improvements to the neighborhood. A vacant lot gets taxed as much as a built one, because it's value is increased by the value of the neighborhood as a whole.

      RR
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