Re: New Orleans and LVT


<ruetheday@xxxxxxxxxx> wrote in message
news:1127848308.557784.192870@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> The US government is about to spend tens of billions and potentially
> hundreds of billions of dollars on the reconstruction of New Orleans
> and other areas ravaged by the hurricanes. The question of how to pay
> for the reconstruction seems to be a popular topic in the media these
> days, with most of the discussion surrounding whether to raise income
> taxes or to simply borrow the necessary funding. Let's consider why
> the implementation of a land value tax in the affected areas would be a
> far better solution.
>
> Hurricane Katrina caused a massive amount of property damage as it
> passed through New Orleans. In addition to the physical damage to
> structures, there was widespread flooding and considerable damage to
> infrastructure such as bridges, roads, and the levee system. The
> provision of utilities like water, natural gas, and electricty was
> disrupted due to both damage to the plants as well as the transmission
> mechanisms (wires and pipes). If land values were assessed today, they
> would be significantly lower than they were immediately prior to the
> hurricane. The net effect of the billions in government spending on
> reconstruction will be to raise land values in the area to at least
> their prior levels and likely to far higher levels. Since landowners
> will be the primary beneficiaries of the reconstruction spending, it
> stands to reason that they should be responsible for footing the bill.
>

What would happen under your proposal, for better or for worse, is that
nothing would get done. Also, it would be difficult to assess such a tax in
proportion to benefit - possible future hotels vs. possible future housing
projects vs. nearby standing housing in a different Parish etc.

Also, you would have to assess such a tax on a national or state level or else
change the concept of the way govt. works today. There seems to a concept of
national and state responsibility for infrastructure/protection against
threats/insurance in some senses.

Bill


.

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