Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Federal Taxation of Land Would Be Preferable to Income Taxation

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Federal Taxation of Land Would Be Preferable to Income Taxation

Article excerpt

Some real estate developers exploit the fact that the value of a plot of urban residential land can increase greatly. An article by Kate Giammarise in the Sept. 26 Post-Gazette told the sad story of a woman who paid for expensive repairs of a house while mistakenly believing that she was transitioning from tenant to owner ("Rent to Own: The Worst of Both Worlds").

Unlike a house, which depreciates, the land containing it usually increases in value, especially in relation to the declining value of the dollar. A remedy would be a federal government tax on the value of land. The taxation cost of land would lower the purchase price and make more properties available to buy. Taxation of land is now limited to local governments and is too low. …

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