This is huge! I sure hope this gets implemented and can stand as a shining example of how cities across the county and world can revitalize their cities, increase production, and make housing more affordable. Wishing you all the best Detroit & Mayor Duggan.
Finally! Someone who acknowledges the conventional property tax system is flawed and that it must be overhauled with one based on immovable land. Speculative land hoarders who do nothing with their parcels while letting whatever's on it as well as the whole city to rot should never get a free ride off the backs of renters and homeowners who are paying thousands more every month.
If this pans out and transforms Detroit into a shining city in 10 years, Duggan has earned himself a place in the history of public finance and economics. Godspeed man.
I think hes absolutely right about everything except the end where he says that it cant work for most cities. It wont work *the same way* for other cities, in the sense that, if a city's land value is higher, a lot more people would be paying more taxes. That makes it more complex to pull off. However, that doesnt mean that they arent dealing with problems involving underdevelopment because people make more money holding land and letting it increase in value for collateral or sale than they would in building on it. A land value tax in places with higher land values has to take into account owner-occupiers of single family homes and potentially only applying the tax change after the land is sold, but the added difficulty is still worth it. The housing deficit across the country (the world?) would be greatly diminished if we could accomplish such a tax structure in more places.
It won’t work for most cities because most cities aren’t experience land and vacant building hoarders. All that would happen is municipalities would lose even more revenue when many haven’t even recovered the revenue from before the market crashed in 2008. Plus the state has completely gutted revenue sharing so most cities are barely scrapping by and are understaffed by people working people with non-competitive wages.
Based henry george
Henry George will rise again!
This is huge! I sure hope this gets implemented and can stand as a shining example of how cities across the county and world can revitalize their cities, increase production, and make housing more affordable. Wishing you all the best Detroit & Mayor Duggan.
This is amazing. This is how the LVT should be sold!
Henry George would be proud.
Detroit, YIMBY city!
We need more bold leaders like this who support taxing land instead of homes and jobs
Finally! Someone who acknowledges the conventional property tax system is flawed and that it must be overhauled with one based on immovable land. Speculative land hoarders who do nothing with their parcels while letting whatever's on it as well as the whole city to rot should never get a free ride off the backs of renters and homeowners who are paying thousands more every month.
👍
If this pans out and transforms Detroit into a shining city in 10 years, Duggan has earned himself a place in the history of public finance and economics. Godspeed man.
We can hope for a repeat of Allentown, among a few others in Pennsylvania.
I see the vision
Now we just need lower car insurance rates.
I as well
THAT'S MY MAYOR!!! I also have worked for S3 which is an amazing staffing agency! Kudos to both!
👍
Fantastic!!!
I think hes absolutely right about everything except the end where he says that it cant work for most cities.
It wont work *the same way* for other cities, in the sense that, if a city's land value is higher, a lot more people would be paying more taxes. That makes it more complex to pull off.
However, that doesnt mean that they arent dealing with problems involving underdevelopment because people make more money holding land and letting it increase in value for collateral or sale than they would in building on it.
A land value tax in places with higher land values has to take into account owner-occupiers of single family homes and potentially only applying the tax change after the land is sold, but the added difficulty is still worth it.
The housing deficit across the country (the world?) would be greatly diminished if we could accomplish such a tax structure in more places.
It won’t work for most cities because most cities aren’t experience land and vacant building hoarders. All that would happen is municipalities would lose even more revenue when many haven’t even recovered the revenue from before the market crashed in 2008. Plus the state has completely gutted revenue sharing so most cities are barely scrapping by and are understaffed by people working people with non-competitive wages.
Exactly, it would work very well in the towns along the I-96 corridor. I'm doing the analysis and it's looking very promising.
This is amazing
Pushing home owners out. Punishing the home owner.
Auto insurance rates should be next.
They have actually went down significantly
thank you for not being kwame