Listen now | In this Institute of Economic Affairs podcast, Managing Editor Daniel Freeman is joined by Editorial Director Dr Kristian Niemietz and Senior Economist Dr Valentin Boboc to break down three taxes that dominated the news this week: the wealth tax, new customs duties on small parcels, and the land value tax.
Thank you for another extremely interesting and informative episode. I wanted to ask about the valuation method for a land value tax. You mentioned one potential method being to subtract the rebuild cost from the market value of a property. In my experience, it is not unusual to be told for insurance purposes that the rebuild cost is greater than the market value, which under that valuation method would imply a negative land value. Is there an alternative valuation method proposed for such cases?
Thank you for another extremely interesting and informative episode. I wanted to ask about the valuation method for a land value tax. You mentioned one potential method being to subtract the rebuild cost from the market value of a property. In my experience, it is not unusual to be told for insurance purposes that the rebuild cost is greater than the market value, which under that valuation method would imply a negative land value. Is there an alternative valuation method proposed for such cases?