USA: Op-Ed A better way to solve the housing crisis — tax land, not development
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To address Los Angeles’ housing crisis, Mayor Eric Garcetti has proposed a “linkage fee” on new development. The city would charge new residential developments of more than five units $12 a square foot, and new commercial developments $5 a square foot, to finance subsidized affordable housing.
This proposal is well-intentioned. Given our politics, and the realities of Proposition 13, it might be the best L.A. can do. But it won’t raise much money or build much housing, and it dodges rather than solves the fundamental problem in our housing policy. We should try for better.
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Source : USA: Op-Ed A better way to solve the housing crisis — tax land, not development