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The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...
“This was basically a bit of a stunt – we thought we’d be lucky to sell one or two,” he said. “With the interest we’re seeing now, it’d be fantastic if we sold all 30.” Show comments
George first articulated the proposal in Our Land and Land Policy (1871). [58] Later, in his best-selling work Progress and Poverty (1879), George argued that because the value of land depends on natural qualities combined with the economic activity of communities, including public investments, the economic rent of land was the best source of ...
Georgism, in modern times also called Geoism, [2] [3] and known historically as the single tax movement, is an economic ideology holding that people should own the value that they produce themselves, while the economic rent derived from land—including from all natural resources, the commons, and urban locations—should belong equally to all members of society.
This can generally be shown in a "bid rent curve", based on the reasoning that the most accessible land, generally in the centre, is the most expensive land. Commerce (in particular large department stores and chain stores ) is willing to pay the greatest rent in order to be located in the inner core.
Land grabbing is the large-scale acquisition of land through buying or leasing of large pieces of land by domestic and transnational companies, governments, and individuals. While used broadly throughout history, land grabbing as used in the 21st century primarily refers to large-scale land acquisitions following the 2007–08 world food price ...
Their view was that only land should be taxed because land is not produced but a naturally existing resource, meaning a tax on it would not be taking from the labour of the taxed, unlike most other taxes. [4] [clarification needed] Proponents of laissez-faire argue for a near complete separation of government from the economic sector.
Businesses may or may not require buildings to use land. The land can be used in other ways, such as for agriculture, forestry or mining. Owners: These people are pure investors. They do not occupy the real estate that they purchase. Typically, they rent out or lease the property to other parties. Renters: They are pure consumers.