The Wall Street Journal recently issued an article and a video about Detroit’s new proposal to implement a split-rate land value tax, which would tax the value of land separate from the value of any structures on it. The tax would incentivize property owners to develop vacant land and encourage more affordable housing options. Additionally, it could potentially increase the availability of buildable land by reducing speculation and land banking. Detroit hopes to become a model for other Rust Belt cities(and beyond) looking to revitalize their communities through innovative tax policies.


Watch below!