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- Title
The Prospect for Commercial Real Estate Under Land Value Taxation.
- Authors
Cord, Steven
- Abstract
This article discusses the prospects for commercial real estate under land value taxation. One result of initial tax reductions to apartment house owners and eventual rent reductions to tenants will inevitably be a boom in new apartment house construction, a most desirable alleviation of the housing problem. It may not be possible for private enterprise to build low-rent apartment houses, but if the supply of apartment houses increases, there will be older buildings for our poorer citizens to choose from, and hence they will be able to upgrade their housing accommodations. Land value taxation would affect office buildings and factories in much the same way. In these cases, too, the improvement-to-land-value ratio is high, usually considerably higher than the city average, so the owners would receive initial tax reductions and the tenants would eventually receive rent reductions. If owner and tenant are one and the same, then the owner-user would receive both benefits. If a city is looking to attract new industry, what wonderful inducement land value taxation would be! Potential industrial prospects could be promised lower taxes on the buildings they build or rent in town.
- Subjects
COMMERCIAL real estate; LAND value taxation; REAL property tax; SINGLE tax; EFFECT of taxation on land use; RENTAL housing
- Publication
American Journal of Economics & Sociology, 1970, Vol 29, Issue 4, p388
- ISSN
0002-9246
- Publication type
Article
- DOI
10.1111/j.1536-7150.1970.tb03127.x