Why we need a green land value tax and how to design it

John Muellbauer

Land prices, as reflected in house prices relative to incomes, are near all-time records, pricing younger citizens out of home-ownership and affordable rents. This column argues that a green land value tax – a charge on the land plus a charge on the house minus a discount related to efficiency of the building’s energy usage – would help resolve conflicts around meeting climate goals, equity and housing affordability, reduce intergenerational injustice and benefit sustainable growth. The evolution from existing property tax systems would be aided by a simple new tax deferral mechanism, removing much of the sting of property tax reform.

Πηγή: Voxeu

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