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Debate Needed on Property or Site Value Tax
national |
bin tax / household tax / water tax |
opinion/analysis
Monday September 24, 2012 23:48 by T
Author of "Boom Bust: House Prices, Banking and the Depression of 2010" speaks on Site Value Tax In an interview today on DriveTime on Radio 1 today (~6:30pm), author of "Boom Bust: House Prices, Banking and the Depression of 2010", Fred Harrison was discussing Site Value Tax which is a different form of Property Tax. He was actually speaking later at 7:30 pm in Trinity at a talk: "A FAIR PROPERTY TAX ? – A PUBLIC DEBATE" organised by the 'Smart Taxes Network'. Harrison says we need to remove the incentives to speculate on land says that is what a Site Value Tax can do. He says the Property Tax in use in the UK and USA doesn't work and that kind of tax leads to boom-bust cycles as it does not cool the market. He says we should place the charge on the site value so that it is based on the location and the services people use. He said Denmark has this and they have the best houses in Europe, compared with UK where they are pretty bad. Property Tax penalizes people for developing or improving their property whereas Denmark site value system doesn't. |
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