hugh wrote
Rod Speed wrote
Andrew May wrote
Doctor Drivel wrote

There is nothing simpler than LVT. Only one tax. Reclaiming the annual value rate of land and no other taxes.

I have asked you this before and you didn't answer. How do you value the _land_ on which a house is built?

In theory you look at the price bare land is sold for and try to find
something comparable to the land under the house location wise etc.

Bare land with or without planning permission ?

Bare land where you are allowed to build what is on the land with
the building on it that you are trying to estimate the land value of.

So with a house and land, you are allowed to build a house there.

With say a 50 story office block, you are allowed to build one of those on that bare land.

With say a very large single level shopping mall, land where you are allowed to build one of those.

Which can be one hell of a problem with some of those more uncommonly seen structures.

In practice with modern citys where there is very little bare land available anywhere except the extreme outskirts
etc, its one hell of an abortion/guess.

When we bought our house the value of the land was shown separately -
it reduced the stamp duty.

It doesnt here. Stamp duty is payable on the total price of house and
land unless they believe that you are lying about what you paid for it, say
because you handed over cash on the side that you didnt mention as well,
or bought it from your relos and didnt pay full market value for it etc.

Multiplying it by the same factor as the inflation of the house value
it would now be worth £50k

So under this weirdo's scheme at 100% LVT that would be my tax per annnum.

Sell the house/ - I wouldn't be able to give it away.

Yeah, thats why I keep saying that if you didnt like the poll tax riots,
you aint seen nothing with what everyone would be doing if the pollys
were actually stupid enough to go that route.

Even Maggie Thatcher in her cups wasnt actually THAT stupid.