Second home council tax discount cut

joguest

"Why not any other asset? A piece of jewellery or a painting?"

The supply of land is perfectly inelastic, so those that profit from ownership are monopolists that like to live off the wealth (the increase in the land value) created by others. Jewellery and paintings have no practical use, whereas land is very useful.

ukcarper

joguest wrote: »

"Why not any other asset? A piece of jewellery or a painting?"

The supply of land is perfectly inelastic, so those that profit from ownership are monopolists that like to live off the wealth (the increase in the land value) created by others. Jewellery and paintings have no practical use, whereas land is very useful.

What about gold aren’t they hoarding a useful resource

shortchanged_2

The system is a farce. The fact that 2nd or 3rd homes or whatever get a discount is a joke. People have a choice to buy a 2nd home, it is a luxury not a necessity and they should pay full tax on that asset.

joguest

ukcarper wrote: »

What about gold aren’t they hoarding a useful resource

Gold's pretty damn useless.

I forgot to add that there's no deadweight loss in taxing land, so it leads to a much more efficient economy.

CLAPTON

why not google 'land value tax ' and look at the pluses and negatives in a wider context than simply second homes?

in my view it has a significant role to play in the better use of land and the acknowledgement that land has much of its value because of its social situation i.e. planning permision, location, local amenities etc

worth considering

ukcarper

joguest wrote: »

Gold's pretty damn useless.

I forgot to add that there's no deadweight loss in taxing land, so it's leads to a much more efficient economy.

OK then silver

wotsthat

shortchanged wrote: »

The system is a farce. The fact that 2nd or 3rd homes or whatever get a discount is a joke. People have a choice to buy a 2nd home, it is a luxury not a necessity and they should pay full tax on that asset.

I'd agree (and I'm a potential second home owner) but some try to argue that's it's a service related tax rather than a simple asset tax.

shortchanged_2

wotsthat wrote: »

I'd agree (and I'm a potential second home owner) but some try to argue that's it's a service related tax rather than a simple asset tax.

Well they would wouldn't they.:)

But let's face it the majority of people can't afford a second home and I think there is something morally wrong with the fact that someone who has one house to live in has to pay more tax on their property than someone who may have several assets dotted around the country.

Graham_Devon

ukcarper wrote: »

The discount seems to be 10% in Devon and Cornwall will this really make a difference to the people that own them and how much money will it raise.

Based on a Band D property, around £1,674,750 in Cornwall. Per year. £2,191,235 in Devon.

ukcarper

Graham_Devon wrote: »

Based on a Band D property, around £1,674,750 in Cornwall. Per year.

So it will raise £167 a year on a band d house, I would think if you can afford a second home that won't make much difference to you. How many second homes do you think there are in Devon and Cornwall.