> Owners hate property taxes and land values are less than property values. Why not slowly switch to using land values and lower everyone’s property tax bill?
Separately, I would suggest being very careful about claims like this.
Lower values for the tax base don’t mean lower taxes in dollar amounts. The previous state I lived in assessed property at about half the market value but more than made up for it in the rates.
A non-trivial revenue-neutral tax reform by definition has to produce some losers. Yes, technically we’ll be paying less “property” tax and more “land value” tax over time as it switches over, but I suspect most folks would put both in the same mental bucket (and unless I’m specifically trying to make a distinction between a land value tax and more traditional property taxes, I do too).
Also, assuming folks would be writing just one check/year during the transition and not two separate ones, that’s another factor leading folks to think of them on a combined basis.
> Owners hate property taxes and land values are less than property values. Why not slowly switch to using land values and lower everyone’s property tax bill?
Separately, I would suggest being very careful about claims like this.
Lower values for the tax base don’t mean lower taxes in dollar amounts. The previous state I lived in assessed property at about half the market value but more than made up for it in the rates.
A non-trivial revenue-neutral tax reform by definition has to produce some losers. Yes, technically we’ll be paying less “property” tax and more “land value” tax over time as it switches over, but I suspect most folks would put both in the same mental bucket (and unless I’m specifically trying to make a distinction between a land value tax and more traditional property taxes, I do too).
Also, assuming folks would be writing just one check/year during the transition and not two separate ones, that’s another factor leading folks to think of them on a combined basis.