alt Hacker NewsChurchill was right!
We’ll try everything except for a land value tax, so that we can eventually prove once and for all that LVT is the right thing to do! :)
But actually, it’s good to see movement on the underlying problem (affordability of home ownership). This is The Domestic American Problem of our times, and it deserves to be closer to the center of the Overton window of our politics and policy-making.
Even if we think this step is kind of meaningless, it draws more attention to the problem, which is a good thing.
Can someone please explain to me a practical way to apply the LVT? Vancouver used to have an LVT, it was too low and there was a housing speculation bubble in the early 1900s, since property was appreciating much faster than the tax rate. And if the LVT is too high, then you will have very little new development. This isn't even mentioning how you determine the value of the land.
Denmark has an LVT and copenhagen affordability is... not good.