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LAND VALUE TAX SHIFT in Downtowns, a tool for SMART GROWTH May 11, 2010 Gary Flomenhoft Research Associate/ Lecturer CDAE, Fellow, Gund Institute UVM, Burlington, VT.

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Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

LAND VALUE TAX SHIFT

in Downtowns, a tool for SMART GROWTH

May 11, 2010

Gary Flomenhoft

Research Associate/ Lecturer CDAE, Fellow, Gund Institute

UVM, Burlington, VT


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

“There is nothing more difficult to carry out, more doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

---Nicolo Machiavelli, 1490


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Vermont Property Tax Shift-Statewide doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

VT Tax Revenue 2004 doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Property taxes comprising 35%

Personal income 20%

Sales and use 12%

Energy taxes 12%


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

VT Tax Revenue-Property split doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Buildings 24%

Personal income 20%

Sales and use 12%

Energy taxes 12%

Land 11%


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Vermont Property Taxes doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Proposed Property Tax Revenue doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Q: What Causes Sprawl? doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

One factor is land speculation. How?

A: By withholding land from the market, and holding for gain, price is driven up, and people have to move further out from center city to find available affordable land. (30% vacant land-Brookings)

“The most comfortable, but also the most unproductive way for a capitalist to increase his fortune, is to put all monies in sites and await that point in time when a society, hungering for land, has to pay his price.” ---Andrew Carnegie


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

LAND SPECULATION doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Q: Why is speculation bad?

A:

  • Drives up price of land

  • Creates Sprawl

  • Withholds land from market

  • Creates slums

  • “Flipping”

VT anti-speculation tax: only applies to >25 acre industrial and forest land

PROP 13: corporations avoid through selling shares


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

LAND SPECULATION doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Q: What good or service does a land speculator provide to the market?

A: Nothing. Mortgage backed securities=Real Estate Bubble and financial collapse?

“The land speculator profits in direct proportion to the damage done to society”

-Winston Churchill


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ANNUAL RETURN doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

“Land is not the only monopoly, but it’s the mother of all monopolies.” ---Winston Churchill

VT HAS an anti-speculation tax


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

What makes land valuable? doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”Publicly created

Population

demand

natural features

public improvements

public services: fire, police, schools, waste

private investment in the area

business activity

limited supply

zoning

growth restrictions (Santa Cruz)

growth boundaries

Not due to private effort


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

What makes buildings valuable- doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”Privately created

Work

Investment

Materials

Architecture

Etc.

Value created through private effort


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

CLASSICAL ECONOMISTS ON LAND doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Adam Smith:

“Ground rents are a species of revenue which the owner, in many cases, enjoys without any care of attention of his own. Ground rents are therefore, perhaps a species of revenue which can best bear to have a peculiar tax imposed upon them.”

John Stuart Mill:

“Landlords grow richer in their sleep without working, risking, or economizing. The increase in the value of land, arising as it does from the efforts of an entire community, should belong to the community and not to the individual who might hold title.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Modern Economists doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Right: “Land tax is the least bad tax”

---Milton Friedman

Left: “Usurious rent is the cause of worldwide poverty” ---Joseph Stiglitz

Green: “Taxation of value added by labor and capital is certainly legitimate. But it is both more legitimate and less necessary after we have, as much as possible, captured natural resource rents for public revenue.” ---Herman Daly


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

HOUSING GAP doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

FROM:

HOUSING&WAGES IN VERMONT

VT HOUSING COUNCIL


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

3 Ways to control land prices doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Community land trust

Municipal leasehold

Tax land at high enough rate to deter speculation


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Tax Increment Financing-TIF (Wikopedia) doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

TIF is a tool to use future gains in taxes to finance the current improvements that will create those gains. When a public project such as a road, school, or hazardous waste cleanup is carried out, there is an increase in the value of surrounding real estate, and often new investment (new or rehabilitated buildings, for example). This increased site value and investment creates more taxable property, which increases tax revenues.

Delay-Loss of revenue


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

“Value Recapture” (Wikopedia) doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Value capture refers to the process by which all or a portion of increments in land value attributed to "community interventions" rather than landowner actions are programmed in advance and recouped by the public sector. These "unearned increments" may be captured indirectly through their conversion into public revenues as taxes, fees, exactions or other fiscal means, or directly through on-site improvements to benefit the community at large…


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

SUMMARY OF INCENTIVES doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

LOCATION TAXES ARE CONSTRUCTIVE

Encourage building upkeep

Strong anti-blight influence

Stimulate new construction

Lower land prices

Bring land into use

Discourage sprawl

Pro-labor, creativity & effort

IMPROVEMENT TAXES ARE DESTRUCTIVE

Penalize buildings & improvements

Reward rundown buildings

Promote slums and blight

Raise land prices

Encourage sprawl

Subsidize unearned land speculation

Anti-labor, anti-creativity & anti-effort


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

HISTORICAL BACKGROUND doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

“Value Recapture” of public investments doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Wright Act 1889: Tulare, CA Irrigation District

Financed by tax on land value. Trees, vines, structures, etc. on the land were exempt

CA Central Valley Irrigation Districts

San Joaquin Valley Agriculture

80% produce in US


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

“Value Recapture” of public investments doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Crossrail – the London rail project was under consideration to fund by land tax.

Studies say public transit could pay for itself through capture of increase in land values around transit stops.


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

HISTORICAL APPLICATIONS doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Denmark: 1790’s, 1950’s, 1960’s

California: 1890’s irrigation districts

Australia: 1930’s-present, Sydney, Canberra-leasehold

New Zealand: 1930’s-present 80% site only

South Africa: Jo-berg

Hong Kong: leasehold

Singapore: rent collection

Taiwan: 1940’s-land to the tiller

NY city 1920’s: 10 yr. abatement of improvements

Pennsylvania: 1913-present


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

MODERN APPLICATIONS doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Australia, New Zealand

Pennsylvania, date adopted


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

MODERN APPLICATIONS doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

City Ratio


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Harrisburg-Poster Child for LVT doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

1983 listed as 2nd most distressed city in US.

* The number of vacant structures, over 4200 in 1982, is today less than 500 (1994) = 80% reduction in vacancy.

* With a resident population of 53,000, today there are 4,700 more city residents employed than in 1982.

* The crime rate has dropped 22.5% since 1981.

* The fire rate has dropped 51% since 1982.

* Number of businesses tripled to 3000

* 3.5B invested in projects

These results are especially noteworthy when one considers the fact that 41% of the land and buildings of Harrisburg cannot be taxed by the city because it is owned by the state or non-profit bodies.


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

EVIDENCE doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

EVIDENCE doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

EVIDENCE doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Average Annual Value of Building Permits doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Dun and Bradstreet Data

(Rustbelt)


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Evidence for development doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

  • 45 studies prove that when towns adopt LVT, a spurt in new construction and renovation results.

  • 63 studies conclude that towns switching from taxing buildings to taxing land always out-constructed and out-renovated their neighbors who were subject to the same economic-growth influences.

  • Contact:

  • Steven B. Cord (Professor-Emeritus)

  • 10528 Cross Fox Lane, Columbia MD 21044

  • 1-410-997-1182 (phone/fax)

  • economicboom@yahoo.com (e-mail)

  • www.EconomicBoom.info


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Goal for Today doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Gather support for enabling legislation allowing Vermont Downtowns, Growth Centers, and Village Centers to tax land at a higher rate than buildings.


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Vermont Property Tax-shift Study Criteria doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Revenue neutral

50% or 100% shift to land value tax statewide

Total revenue divided by total land assessment =land value tax rate


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Vermont Property Tax-shift Study Limitations doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

Single rate statewide & city by city

No separation of school district from municipal tax district

No adjustment for common level appraisal


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ASSESSMENTS-2000 doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Statewide DECREASE and INCREASE BY GPC doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

INCREASE

DECREASE


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Burlington Tax Shift Analysis (2004) doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Burlington INCREASE OR DECREASE BY GPC doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

INCREASE

DECREASE


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Burlington BIGGEST INCREASE doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Burlington BIGGEST DECREASE doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Burlington RESULTS BY PROPERTY CLASS doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION: doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

LAND VALUE TAX SHIFT DETAILS (2008)


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION RES,CONDO,COM doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

MERGED


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

RESIDENTIAL & CONDOS


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

RESIDENTIAL & CONDOS-TOP 10 DECREASE


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

RESIDENTIAL & CONDOS- TOP 10 INCREASE


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

COMMERCIAL


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

COMMERCIAL-TOP 10 DECREASE


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

ESSEX JUNCTION SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

COMMERCIAL-TOP 10 INCREASE


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER Res, Condo, Comm Merged doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER MERGED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

TOP 10 DECREASE (ALL COM)


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER MERGED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

TOP 10 INCREASE (ALL COM)


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

RESIDENTIAL AND CONDOS


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

TOP 10 DECREASE RES&CONDO


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

TOP 10 INCREASE RES&CONDO


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

COMMERCIAL


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

TOP 10 DECREASE COMMERCIAL


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

GROWTH CENTER SEPARATED doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

TOP 10 INCREASE COMMERCIAL


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Growth Center land value/acre doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

Greenwich land value/acre doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”


Land value tax shift in downtowns a tool for smart growth may 11 2010 gary flomenhoft

LESSONS FROM THE PAST doubtful of success, nor more dangerous to handle, than to initiate a new order of things. For those who would institute change have enemies in all those who profit by the old order, and they have only lukewarm defenders in all those who would profit by the new order.”

  • Get zoning/set-asides in place to protect environmental/agricultural assets

  • Get assessments right

  • Don’t implement at same time as reassessment (Amsterdam, NY, Pittsburgh, PA)

  • Implement gradually ie: over 5 years

  • Alaska dividend, or Aspen voucher-irreversible