Land Value Tax went mainstream in 2023
This may have been the best year ever for Land Value Tax in mainstream media.
Our friends down south have successfully positioned it in the national debate as an answer to the housing crisis. Here in Canada, the conversation is a few steps behind, but many members of media and civil society are beginning to pay serious attention.
Search interest for “land value tax” is at the highest level in modern history, at a time when few other ‘housing solutions’ seem to be working.
Below is an overview of 2023 coverage in major media networks, political candidates who ran on LVT, and highlights of our work at Common Wealth Canada.
Land Value Tax in Canadian Media
The Star
Land value tax could make housing more affordable (Opinion)
"The market-oriented silver bullet for housing affordability is a “land value tax” (LVT). It taxes the value of land, absent any improvements to it. Set at the right level, the LVT will capture the externality that landowners get for doing nothing." (Sept 2023)
The Globe & Mail
A way to persuade homeowners to embrace housing development in their own backyards
"In today's economy, a land tax could promote greater densification of our major cities. It could also deter land speculation, decrease income taxes and boost productivity...when leaders seem determined to ignore our housing crisis, we shouldn't rule out anything." (May 2023)
BNN Bloomberg
VIDEO: U of T prof. on the way forward for transit-oriented communities
BNN Bloomberg interviews Director of UofT Infrastructure Institute about taxing land value generated by transit development. (May 2023)
Policynote (CCPA-BC)
Taxing land wealth for the public good: provincial policy options
"Land wealth is created collectively... Unlike the value created by constructing or improving a building, increases in land values are not the result of any effort or expense by property owners… to ensure that privatized land value gains are more broadly shared: tax them.” (Aug 2023)
The Tyee
How BC Could Tax Soaring Property Values for the Public Good
The Tyee published a mirror of the CCPA report under a different headline, presumably more optimized for readers. (Aug 2023)
CityNews
Ontario proposes new way of funding GO Transit stations, spurring nearby development
In September 2023, Ontario's Minister of Infrastructure Kinga Surma introduced Bill 131 (Transportation for the Future Act) which would let municipalities implement Land Value Capture (LVC) to fund GO transit development.
During Second Reading, Surma presented the well-established benefits and precedents of LVC. Bill 131 received Royal Assent in Dec 2023.
The Georgia Straight
We shouldn’t tax buildings in a housing crisis
"In short, a wealth of both economic theory and historical evidence shows us a clear path for how to fix our housing crisis: stop taxing buildings and tax land instead." (Nov 2023)
ReNew Canada
Land value capture can play role in building and paying for transit: U of T study
"Land value capture remains under-utilized in Canada to finance transit infrastructure through market-driven approaches." (May 2023)
The Star
Tax the land value not the buildings on it (Readers’ Letters)
"No fancy plans required and in this case, the market really does provide a solution." (March 2023)
In the UK: Financial Times
The case for a land value tax is overwhelming
"I have long been a supporter of taxing land value. Such a tax would be economically efficient and morally just." — FT Chief Economics Commentator Martin Wolf (Feb 2023)
In addition to growing media coverage, several Canadian political candidates included land value tax in their policy platforms in 2023:
In August 2023, members of the Green Party of Canada introduced a Resolution on Sharing the Commons to shift taxes away from beneficial economic activity (income, business, sales) and onto land, natural resources, and pollution.
LVT in US media
The New York Times
The ‘Georgists’ Are Out There, and They Want to Tax Your Land
"'The notion that land is an undertaxed resource — and that this distorts markets in destructive ways — unites libertarians and socialists, has brought business owners together with labor groups and is lauded by economists as a “perfect tax.”’ (Nov 2023)
TIME
2023 CEO OF THE YEAR - Sam Altman
Time's CEO of the Year article talked about OpenAI CEO Sam Altman's passion for Land Value Tax and the ideas of Henry George. (Dec 2023)
The Wall Street Journal
VIDEO: Why America's Biggest Cities Are Littered With Vacant Lots
WSJ aired a primetime mini-doc showing how Land Value Tax can revitalize cities, encourage development, and discourage vacant lots. (March 2023)
The Wall Street Journal
Detroit Aims to Spur New Housing, Boost Property Values With Tax Change
"A land-value tax will help revitalize city, become model for Rust Belt, proponents say" (Feb 2023)
WIRED
Land Ownership Makes No Sense
"one day, we believe, people will see Georgist taxation as not only economically efficient but morally righteous." - Wired (May 2023)
The Economist
Detroit wants to be the first big American city to tax land value
“Do you see the cat?” (Oct 2023)
Business Insider
Housing economists have a great idea that could fix just about everything
"land value taxes have appeal across the political spectrum. Those on the left like that it's a more progressive tax, while free-market conservatives and libertarians like how efficient and pro-development it is." (Nov 2023)
ABC
Detroit Mayor Mike Duggan proposes Land Value Tax Plan at Mackinac Policy Conference
Beginning in May 2023, ABC affiliate WXYZ Detroit aired multiple segments on Detroit's proposed Land Value Tax.
FOX
Mayor Mike Duggan rolls out Detroit Land Value Tax
FOX 2 Detroit aired multiple segments on Detroit's proposed Land Value Tax beginning in May 2023.
CBS
Land value tax plan proposed by Detroit mayor looks to cut down property taxes
"Duggan said the tax plan would help make new housing developments in the city more affordable." (June 2023)
Forbes
Whether To Rent Or Buy Your Home Can Be An Expensive Debate. Detroit Has A Solution
Forbes interviewed Redfin Chief Economist Dr. Daryl Fairweather on how Land Value Tax could help address the housing crisis. (June 2023)
The Week
Is a Georgist tax on land the solution to Detroit's housing crisis?
"The land-value tax is one of the foundations of Georgism. This is an economic principle stating that land should be the responsibility of the entire community and not individual citizens — basically, valuing the land itself and not the structure on top of it." (Nov 2023)
Honorary Mention
In November, 2023, UK Youtuber BritMonkey released a viral 20-minute video titled “The Power of Land: Georgism 101”:
At Common Wealth Canada, we believe it’s primetime for everyday Canadians, our leaders, and the media to understand how taxing land and resource rents - instead of work - can improve affordability, preserve the commons, and ensure collectively created wealth benefits all of us.
We’ve been busy putting out research, making content, and building a community around these ideas:
In 2023, we published our inaugural report estimating the total economic rent that could be collected from Canada’s land and natural resources at over $240 billion/year. That’s enough to eliminate personal income taxes for 98% of Canadians or pay a dividend of $7,600/year to every adult.
We released a primer on how land value tax can fix the incentives plaguing our housing market, as well as a plan for lower home prices and lower income taxes.
We launched a series of Common Wealth community calls featuring guest speakers on a wide range of topics related to economic rents, housing, social dividends, and the commons.
We’re developing a working draft for a Canadian sovereign wealth fund that invests shared resources and pays citizens’ dividends.
Common Wealth Canada is building on the work of other organizations around the world like the Robert Schalkenbach Foundation, Common Ground USA, Lincoln Institute of Land Policy, Strong Towns, Henry George Foundation (UK), Henry George Foundation of Canada, Basic Income Earth Network, Generation Squeeze, Prosper Australia, UBI Center, UBI Works, Goa Foundation, IPPR, People’s Policy Project, Citizen's’ Climate Lobby, Clean Prosperity, Henry George School of Social Science, and many more who are pushing important ideas into the mainstream discourse.
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