Pro and con

There are 1 comment on the Chicago Tribune story from Aug 17, 2008, titled Pro and con. In it, Chicago Tribune reports that:

Brian Hickey, co-owner of Teardowns.com, a real estate site for buyers and sellers based in Clarendon Hills , says the main factors that make an older neighborhood attractive are: Proximity to a city center; ...

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LVTfan

Morristown, NJ

#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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