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UID:Indybay-18858426
SEQUENCE:19023866
CREATED:20230819T223600Z
DESCRIPTION:Come along on a walking tour exploring the intersection of real estate and 
 social issues.\n\nThis week the focus will be on the unintended harm 
 occasioned by land trusts in California.\n\nOf course, for those who live 
 on land trust property they experience over time a considerable insulation 
 from the rising cost of real estate, and this ensures their protection from 
 market and speculative forces; however, this is at the expense of 
 society.\n\nLand trusts in California lock in Proposition 13's deep chill 
 of socially-generated land value. Precisely as Prop 13 deprives society of 
 the market valuation (and commensurate revenue) of the location values of 
 commercial and conventional residential properties, land trusts guarantee 
 that their land value will also not be subject to market valuation.\n\nSo, 
 just as Prop 13 has resulted in commercial land holdings not paying their 
 market fair share of property taxes (resulting in higher sales and income 
 tax to make up the difference), so land trusts help a privileged bunch by 
 foisting the funding of community goods and services onto those who pay 
 sales and income tax.\n\nIndeed, were land trusts to become ubiquitous, 
 they would make necessary the iniquitous proliferation of taxes on 
 productive activity. Land trusts are more permanent holdings than 
 commercial real estate endeavors, meaning specific land trusts will outlive 
 almost all specific commercial real estate holdings. If California were to 
 convert all holdings to land trusts, Prop 13 would freeze property taxes 
 forever!\n\nOn this walk we'll explore the antidote to land speculation, 
 whether its private investment or land trust investment at play. Making 
 real estate affordable is as easy as socializing land values.\n 
 https://www.indybay.org/newsitems/2023/08/19/18858426.php
SUMMARY:The unintended harm of urban (and rural) California land trusts
LOCATION:meet in the lobby of The American Youth Hostel\n312 Mason Street\nSan 
 Francisco
URL:https://www.indybay.org/newsitems/2023/08/19/18858426.php
DTSTART:20230826T160000Z
DTEND:20230826T190000Z
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