måndag 19 maj 2008

Proposed stupid legislation item #3

Another item on the agenda is the proposal to allow councils to levy a supplement to the business rate. The problem is that, first, this is taxation without representation and second, owners of vacant and underdeveloped sites do not make their proper contribution to the business rate in relation to the potential or actual benefits enjoyed by those sites, which are held speculatively or negligently out of use.

The solution to this one is land value taxation, in which sites are valued on the assumption that they are at the optimum permitted use, and subject to the same RATE OF TAX regardless of use - in other words, differences of use are taken into account at the valuation, which is based on current market evidence.

With this tax, it would be possible to have both national and locally determined elements so that people are not making decisions at other people's expense.

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