Land value tax
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A land value tax is a levy on the value of land without regard to buildings, personal property and other improvements upon it. Economists favor LVT, arguing it does not cause economic inefficiency, an
With an LVT, both this abandoned lot and the adjacent buildings would pay the same amount in taxes. This incentivizes the owner of the abandoned lot to either use the land for economic activity or sell it to someone who will.
Everybody works but the vacant lot – Henry George
Anne Robert Jacques Turgot, a leading physiocrat
Henry George in 1865
Henry George
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Henry George was an American political economist, social philosopher and journalist. His writing was popular in 19th-century America and sparked several reform movements of the Progressive Era. He ins
Land value tax
…development without subsidies. A type of land value tax known as the single tax became central to Georgism, a normative school of economic thought. Henry George, its originator, argued that a land value tax should be the only source of public revenue because the supply of land is fixed and public infrastructure…
George in 1886
Henry George Birthplace in Philadelphia
George's father Richard S. H. George
George with his son Henry Jr. and daughter Anna c. 1897