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0 pointsuberman4y ago0 comments

That is how traditional property tax works. However (as I understand it) a LVT that replaces property tax (potentially all other taxes as the one true tax) is based solely on the yearly cost to lease a parcel of land. Your tax is just that, the cost to lease.

With a LVT there is no "here is your % of the district tax burden apportioned by what you own" only a "here is what we estimate it would cost to lease this property for a year".

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3 comments · 1 top-level

dragonwriter4y ago· 2 in thread

Note that an LVT of that form is isomorphic to public confiscation of land, which is leased back to the nominal “owner”.

jeffbee4y ago

The current system is that we're all living on subdivided Mexican land grants, which fundamentally doesn't make any more sense than any other system. So, confiscation is a big scary word, but I'm already living on a place that Pablo Vicente de Solá gave to Don Luís María Peralta 200 years ago, after stealing it from the remaining natives that hadn't been murdered yet.

When you think it through no system based on the sanctity of private property rights really makes any sense.

ubermanOP4y ago

Sure, I guess. There is a lot of fancy words there so I'm not sure I follow what you are saying.

If you are saying that lvt is the amount one would pay if someone else owned the land and you were leasing it then ya.

I would be happy to swap all my taxes for the cost to lease "my property". I cost way more to build my property than it is worth. When we took a year to travel we had to pay someone to live there.

This is not uncommon in rural America and I would be happy to swap this for my taxes.

Just know that doing this would kill most rural schools and defund most rural governments and related safety services including the volenteer ones.

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