Brendan Burgess
Founder
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Site-value tax easier to implement and better for economy
He makes some interesting points which I had not heard before.
He makes some interesting points which I had not heard before.
Firstly, there should be no ongoing exemptions from a property tax, only deferrals. For those who are property-wealthy but income-poor (such as older couples) the State can wait until they ultimately sell the property and then take the fair amount.
The problem with income- based exemptions is that they turn a property tax into something suspiciously like an income tax.
But the main point of the article is advantages of a site-value tax over a full-value taxIt’s also possible to ease the burden on those who bought at the peak through a transitional arrangement such as tax credits against their property tax bills that must be used by 2020.