…Appears on the Robert Schalkenbach Foundation’s blog. Here’s a snippet.
Land value taxation should, in theory, raise total wages and greatly increase the housing supply; but people should be mobile too, even including nonresidents who come in to elbow out poorer ones for the benefits the system provides. In Minneapolis where I live, we have seen significant growth in high-end housing in recent years but very little for the poor.
So what can a local government do to ensure that land value taxes help the people who need help the most, rather than high-income newcomers?
Read more here.
Disclosure: I sit on the foundation’s board.