Strong Towns: Property Tax vs. Land Value "Tax" (LVT)
John Snow2 HN recommenders · recommended in 2 months, 2017–2022
explainer · intro · evergreen · 2017–2022 on HN
Chuck Marohn of Strong Towns explains how a land value tax differs from an ordinary property tax, why it makes economic sense, and why it is rarely used. It is a short six-minute explainer.
Pointed to as a concise explanation of land value tax and its effect on city finances.
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3 comments from Hacker News
Simply put, Land value tax is a tax on the unimproved value of land. It also can be thought of as _location_ value tax. Property tax typically includes both land value tax and the value of the improvements to the land - buildings, etc. While they may sound similar, land value tax and property tax lead to vastly different outcomes. Check out this Strong Towns video for an explanation about both taxes and how they differ: ▶ this video
The author, Chuck Marohn, has previously made this video that explains how a Land Value Tax would affect the fiscal situation of a city (for the better): ▶ this video
A land value tax taxes the value of the land not the things built on it. It hurts speculators/landlords and benefits people who build/improve. It works very differently than a propery tax. ▶ this video