61–70 of 129 posts
Earlier quoted context omitted.
This quote is from Henry George, who advocated for Georgism. https://en.m.wikipedia.org/wiki/Georgism
It appears that the quote is about George, not by George. "George advocated for Georgism" is a tautology :-)
At least in California, especially in Los Angeles, it's really important to factor in that parking lots -- even on land worth $10M+ -- often pay property taxes as little as $100-$1000 a year (thanks to Prop 13). You buy a parking lot, sit on it as the value of land increases (paying effectively 0% in taxes), then you eventually sell, paying only a capital gains tax (much lower than income). I only bring up California…
> parking lots -- even on land worth $10M+ -- often pay property taxes as little as $100-$1000 a year (thanks to Prop 13). Commercial property is also exempt under Prop 13?! What a screwed up system. I kind of understand if it applies to primary residences. I think it's ridiculous it also applies to commercial property as well.
We can't increase taxes on poor old grandpa's deli. He'll never be able to compete with all the other delis that also have to pay rising taxes. Think of poor grandpa!
Meanwhile, you've got landlords owning those shitty 6-unit dingbat apartments they built in the 70s for $100k, paying taxes of $1k per year, charging rents or $3k/month for each unit. All the while, they're collecting another $1k or so in land value increases per month, that will be taxed at a lower capital gains rate -- of which the state will see almost nothing. AND it's the whole reason no one ever sells those buildings to be redeveloped. They make so much money, since they pay no taxes, that there's no better investment in the world. Why would anyone ever sell one? Even at $10M, you'd still be crazy to sell it. It'll be worth $11M next year, and you get all that tax-free profit.
Totally legally, and totally cool.
At least in California, especially in Los Angeles, it's really important to factor in that parking lots -- even on land worth $10M+ -- often pay property taxes as little as $100-$1000 a year (thanks to Prop 13). You buy a parking lot, sit on it as the value of land increases (paying effectively 0% in taxes), then you eventually sell, paying only a capital gains tax (much lower than income). I only bring up California…
> parking lots -- even on land worth $10M+ -- often pay property taxes as little as $100-$1000 a year (thanks to Prop 13). Commercial property is also exempt under Prop 13?! What a screwed up system. I kind of understand if it applies to primary residences. I think it's ridiculous it also applies to commercial property as well.
I'll never understand how articles like this always talk about Uber and never about public transportation. https://en.wikipedia.org/wiki/AirTrain_JFK#Ridership >The AirTrain's ridership has risen each year since then. In 2017, there were 7,655,901 passengers who paid to travel between JFK Airport and either Howard Beach or Jamaica. This represents a 292% increase over 2004, the first full year of operation, when 2,62…
I wonder how much this actually matters? Money is money, whether it's coming from one person parked for 8 hours or four people each parked for 2 hours.
Sure, most lots will charge a somewhat lower rate for a longer period of time (i.e. the per-hour is less than three per-20-minutes, the per-four-hours is less than four per-hours, etc.), but if lots really do prefer short-duration parkers over longer-duration parkers, then it'd make sense for them to just not incentivize that behavior and charge a flat rate (or even invert it), no?
At least in California, especially in Los Angeles, it's really important to factor in that parking lots -- even on land worth $10M+ -- often pay property taxes as little as $100-$1000 a year (thanks to Prop 13). You buy a parking lot, sit on it as the value of land increases (paying effectively 0% in taxes), then you eventually sell, paying only a capital gains tax (much lower than income). I only bring up California…
Exactly. Taxing property encourages speculation and under-development. Showing an alternative, Pennsylvania has several towns and cities with a split-rate tax, which means that there's a higher tax on the assessed land value than on the assessed value of the property. Taking this to an extreme, you can tax only the land value, not the property, providing a very strong incentive to make the best use of desirable land.…
A good old wealth tax on everything would fix that.
At least in California, especially in Los Angeles, it's really important to factor in that parking lots -- even on land worth $10M+ -- often pay property taxes as little as $100-$1000 a year (thanks to Prop 13). You buy a parking lot, sit on it as the value of land increases (paying effectively 0% in taxes), then you eventually sell, paying only a capital gains tax (much lower than income). I only bring up California…
And sometimes it's both: the poor old ladies who want to hang onto it for their descendants to inherit, ostensibly because it was the "family home" but more rationally/coldly because it could turn a tidy profit for said descendants.
I'll never understand how articles like this always talk about Uber and never about public transportation. https://en.wikipedia.org/wiki/AirTrain_JFK#Ridership >The AirTrain's ridership has risen each year since then. In 2017, there were 7,655,901 passengers who paid to travel between JFK Airport and either Howard Beach or Jamaica. This represents a 292% increase over 2004, the first full year of operation, when 2,62…
The AirTrain is only eight miles long, cost $1.9 billion to build, and is relevant only to those going to or from JFK. Public transport, especially the AirTrain, is great but I think such advocacy would be well served by discussing the costs as well.
Self-driving cars will render these obsolete
Is your self-driving car going to take up less space or something?
As horrific as that idea sounds you just know that will be the reality until there is a law against it.
Self-driving cars will render these obsolete
Even if it was the point, stick a charger on every space and BAM! now you've got a reason to let your electric self-driving car park there instead of wasting battery driving all the way back home only to drive all the way back to you and home again later.