this post was submitted on 08 Feb 2024
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I agree that taxing land is a good idea, but it's really hard to do in practice. How you put a value on land?
Income tax is easy to put a value on, because it's right there on your pay slip. But what's the value of land?
http://gameofrent.com/content/can-land-be-accurately-assessed
The key downsides of income taxes, though, are it requires tracking everyone's income, and it's very easy to hide income by doing under-the-table work and getting paid in cash. In contrast, it's impossible to hide land.