Land Value Taxes Can Resolve Property Tax Systems’ Inequities – Bloomberg

"This inequity is playing out in Chicago’s south suburbs. In towns such as Harvey, Ill., where the median household income is relatively low, a property tax hike of 30% has left many residents in precarity."
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Bross
1 year ago

How is it this has never been tried before. So starting with the premise that your costs are fixed (increasing every year). You rearrange the distribution of those costs based on a different model. The costs are still applied. What happens in fully developed areas? Nothing. Same costs applied slightly differently. Poor areas with vacant land can be picked up today for nothing but the author suggests the land will be developed faster since you are treating it as vacant, but has potential so developers would build faster to cover their costs. . I must be missing something…

David F
1 year ago

Illinois where light the fire and leave has become a real option…

Freddy
1 year ago
Reply to  David F

Soon there will be an unusual numbers of grease fires in Illinois homes. From space it will look like another sun has formed in the Midwest.

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