<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD><TITLE>Land Value Tax, Re: TownTalk Digest, Vol 10, Issue 39</TITLE>
<META http-equiv=Content-Type content="text/html; charset=us-ascii">
<STYLE type=text/css>BLOCKQUOTE {
PADDING-BOTTOM: 0px; PADDING-TOP: 0px
}
DL {
PADDING-BOTTOM: 0px; PADDING-TOP: 0px
}
UL {
PADDING-BOTTOM: 0px; PADDING-TOP: 0px
}
OL {
PADDING-BOTTOM: 0px; PADDING-TOP: 0px
}
LI {
PADDING-BOTTOM: 0px; PADDING-TOP: 0px
}
</STYLE>
<META content="MSHTML 6.00.6000.16441" name=GENERATOR></HEAD>
<BODY>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=241490713-18052007>Jack -</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=241490713-18052007>Would you mind clarifying? I remember we had a
conversation along these lines on this list some time in the last year or so;
are you advocating a land tax instead of the system currently in place in
Maryland that taxes land and improvements? That sounds like a change that
would have to be made at the state level, is that correct?
</SPAN></FONT></DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=241490713-18052007></SPAN></FONT> </DIV>
<DIV dir=ltr align=left><FONT face=Arial color=#0000ff size=2><SPAN
class=241490713-18052007>Nancy</SPAN></FONT></DIV><BR>
<DIV class=OutlookMessageHeader lang=en-us dir=ltr align=left>
<HR tabIndex=-1>
<FONT face=Tahoma size=2><B>From:</B> towntalk-bounces@riverdale-park.org
[mailto:towntalk-bounces@riverdale-park.org] <B>On Behalf Of </B>Jack Randall
Jones<BR><B>Sent:</B> Friday, May 18, 2007 2:01 AM<BR><B>To:</B>
towntalk@riverdale-park.org<BR><B>Subject:</B> [RP TownTalk] Land Value Tax, Re:
TownTalk Digest, Vol 10, Issue 39<BR></FONT><BR></DIV>
<DIV></DIV>
<DIV>Dear Towntalk,</DIV>
<DIV><BR></DIV>
<DIV>My phone is 301-277-2242. I am willing to talk with anyone or group that
wishes</DIV>
<DIV>to gain a better understanding of the issue.</DIV>
<DIV><BR></DIV>
<DIV>In terms of all of us who have to pay higher taxes for those who are
speculating on increased land value and who will reap a windfall on sale of
their land that has increased in value through the economic actions of
others...consider that just the vacant land is underpaying $131,651/year (in
2003 dollars), underused land would add to this total. Over the past 15 years,
had the town adopted the LVT, this is a sample of yearly savings for good
economic citizens.</DIV>
<DIV><BR></DIV>
<DIV><FONT color=#000000>$96,310</FONT><X-TAB>
</X-TAB>1991<X-TAB>
</X-TAB><X-TAB> </X-TAB>If memory
serves, these figures</DIV>
<DIV><FONT
color=#000000>$119,162<X-TAB>
</X-TAB>1999</FONT><X-TAB>
</X-TAB><X-TAB> </X-TAB>amount to
about 10% of the Town's</DIV>
<DIV><FONT
color=#000000>$131,651</FONT><X-TAB>
</X-TAB>2003<X-TAB>
</X-TAB><X-TAB> </X-TAB>budget in any
given year.</DIV>
<DIV><FONT
color=#000000>$143,291</FONT><X-TAB>
</X-TAB>2006</DIV>
<DIV><BR></DIV>
<DIV>Assuming straight line inflation for the 15 years, that is about $1,800,000
total, or about</DIV>
<DIV>$1,130 for each of the 1592 properties in town at that time, of which 171
are vacant.</DIV>
<DIV><BR></DIV>
<DIV>I would rather not pay for land speculator's and run down property owner's
profits...but I am only one vote...you other homeowners are going to have to
push for this change, in mass, or it will not happen. Keeping the system you
have is not going to solve the problems it has caused...only a change to a
rational revenue system is going to make Riverdale better...your choice.</DIV>
<DIV><BR></DIV>
<DIV>Sincerely,</DIV>
<DIV>Jack</DIV>
<DIV>********************************************************************<SPAN></SPAN>***********************************</DIV>
<DIV>PS: a few bits of data from 2003 assessments</DIV>
<DIV><FONT size=-2><BR></FONT></DIV>
<DIV><FONT size=-2>The Land Tax is better than The Improvements and
LandTax Combination (current tax method) for Economic Development.</FONT></DIV>
<DIV><FONT size=-2>If Riverdale Park taxed only land then the vacant land would
have to pay its Fair Share.</FONT></DIV>
<DIV><FONT size=-2>20 Vacant Industrial Lots would pay a total of $76, 904 more
in taxes</FONT></DIV>
<DIV><FONT size=-2>42 Vacant Commercial Lots would pay a total of $25,391 more
in taxes</FONT></DIV>
<DIV><FONT size=-2>7 Vacant Multifamily Lots would pay a total of $3,965 more in
taxes</FONT></DIV>
<DIV><FONT size=-2> 60 Vacant Residential Lots would pay a total of
$25,391 more in taxes</FONT></DIV>
<DIV><FONT size=-2>This also means that those lots where owners are making
better use of the land, will pay less in taxes than they currently
pay.</FONT></DIV>
<DIV><FONT size=-2>Information based on Riverale Park 2003
Assessments</FONT></DIV></BODY></HTML>