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throwaway092323 | 2 years ago
Maybe. I can't tell if we're talking past each other.
> The value (and thus the tax) on my empty lot with nothing but dirt is going to be set by the tax of the developed lot right next to it, which might contain a highrise apartment building.
Yes, the empty lot will be higher because of the highrise apartment next to it, BUT...
> So you're saying I will be taxed on the value of an imaginary building I don't actually have, just because the neighboring lot has one.
No, because the appraiser wouldn't include the building's value; they'd only be appraising the average value of land in the area.
> So there's no way I can afford to pay that since the bare dirt doesn't give me any income. So I will lose this land due to the tax.
That's intentional. If the land is only profitable for highrise apartments, then you should sell it to someone who can afford to build some. Note that this would help with the housing crisis.
jjav|2 years ago
> That's intentional.
Ok so it's true and intentional. Thus my statement at the top of the thread, LVT is a way to take land away from people.
throwaway092323|2 years ago
The problem goes away if you don't treat land ownership as a right. What is the advantage of letting people possess empty lots?