this post was submitted on 13 Jul 2024
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Housing Bubble 2: Return of the Ugly
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That’s what occupancy taxes are for. If it is taxed for every month that it’s empty, it’ll get sold or rented.
Victoria has introduced a tax on vacant homes, but they're finding it hard to enforce in practice (there's really only a bunch of indirect indicators that you can rely on, stuff like census date, electricity use, etc), and it turns out that the bastards that would just leave a house empty have no issue with not declaring this.
Land Value Tax solves this problem.