Is the land value tax being proposed just on undeveloped lots?
In my mind, the only thing taxable ought to be the land. Reason for that is simple, that is where all capital investment by the municipality is sunk (water, sewer, gas, electric, phone, etc.).
Everything upon the land is the possession or private owner. Such decays over time and must be depreciated annually if we are playing fair.
So if we continue to tax additions upon the land, then do so with 1-1.5% standard depreciation that is common in commercial property accounting.
Great analysis!
Is the land value tax being proposed just on undeveloped lots?
In my mind, the only thing taxable ought to be the land. Reason for that is simple, that is where all capital investment by the municipality is sunk (water, sewer, gas, electric, phone, etc.).
Everything upon the land is the possession or private owner. Such decays over time and must be depreciated annually if we are playing fair.
So if we continue to tax additions upon the land, then do so with 1-1.5% standard depreciation that is common in commercial property accounting.