andrewducker: (Default)
andrewducker ([personal profile] andrewducker) wrote2017-05-17 12:00 pm

Interesting Links for 17-05-2017

wildeabandon: picture of me (Default)

[personal profile] wildeabandon 2017-05-17 01:38 pm (UTC)(link)
AFAICT, the best argument against an LVT is that assessing the market value of land which hasn't been sold recently is a hard problem.
armiphlage: Ukraine (Default)

[personal profile] armiphlage 2017-05-19 12:22 am (UTC)(link)
It works fairly well in Canada. Every bit of real estate has an assessed value generated by a government representative, based on recent sales in the vicinity, aerial photos, and guesswork. It's often a bit less than full market value, so people usually don't complain, for fear the appeals committee will raise it higher. There's an appeals process if you think your property should be valued less than that of your neighbours. Nobody ever tries to claim their property is worth more than the assessed value, unless it's about to be expropriated to build a road or airport.

At tax time, the municipality adds up the total assessed value of real estate, and adds up their budgeted expenses. Dividing the two gives the property tax rate (around 0.5%).