News

land value taxation

In the absence of land value taxation, hundreds of frustrated Toronto landowners and merchants have taken matters into their own hands, voluntarily taxing themselves to finance a redesign of their local street.

Six hundred and fifty-eight businesses in the Bloor and Yonge shopping district agreed to levy themselves $20 million to finance sidewalk widening, adding benches and granite planters, and planting trees along the street. Toronto Star columnist Christopher Hume calls the street remake "an enormous success, a model for the rest of Toronto".

A very good development coming out of the Irish meltdown, the introduction of nation-wide land value taxation policy. http://www.thejournal.ie/government-announces-new-site-value-tax-from-20...

Site Value Taxation (or Land Value Taxation) is like the property tax except that it levies only the value of the lot underneath the buildings, not the value of the buildings (improvements). It is a tax shift, not a tax grab, since other taxes will be reduced.