Nov 26, 2024
In this episode, we’re diving into a timeless economic solution
that’s gaining new attention in today’s housing debates: the Land
Value Tax (LVT).
Unlike traditional property taxes, which tax both land and the
structures on it, a Land Value Tax focuses solely on the land. This
means property owners aren’t penalized for making improvements,
like building more housing—a crucial distinction in the context of
today’s housing crisis.
We’ll explore the origins of this idea, tracing back to economists
like Adam Smith and David Ricardo in the 1700s, and its
popularization by Henry George in his influential 1879 book
Progress and Poverty. Advocates of LVT, often called Georgists,
have emerged from across the political spectrum, including notable
figures like Milton Friedman and Joseph Stiglitz.
Joining us is Floyd Marinesco from Common Wealth Canada, a think
tank advocating for a Land Value Tax to address housing challenges
in Canada. Floyd shares insights into how this idea could reshape
housing markets and what lessons might apply to other regions
facing similar issues.
Have questions or feedback? Email me at askjohn@movesmartly.com—we’d love to hear from
you!