Pro and con
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#1 Aug 17, 2008
location, location, location!
If you want a short commute, you need to be near good public transportation, and near the center of things.
The question is, who should one pay? The seller, or the community? The community created the amenities. Why does the seller get to take the money for them? The buyer ends up paying twice: once to the seller (and forever to the mortgage lender) and then again to the community through sales taxes, wage taxes, building taxes.
The way to correct this is to untax commerce, untax wages, untax buildings, and simply tax land value. All the effects of good public spending get reflected in the land value, and taxing it does not take from the landholder anything he created.
Pay once ... pay the community via a tax on land value, and pay the seller for what he created: the house itself.
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