RE: saving our cities: an upcoming conference in Cleveland some might want to attend

[Community Development Banking List]

Original message from: ejdodson@comcast.net

Meizhu, you wrote:

Thanks for this; the application of George's theories account for the
difference between the rebuilding of San Francisco after their great fire in
1910 and New Orleans after Katrina. Since land was taxed according to its
social value in SF regardless of the buildings on it (no one creates land
and its value is therefore socially determined; hence "location location
location"), tax revenues allowed for quicker rebuilding back then. These
ideas do need consideration as part of the mix of solutions for economic
revival.

Ed Dodson here:
It is encouraging to learn that others have encountered Henry George's
writings (or the writings of economists who wholly or partially embrace his
analysis of the business cycle). I am only vaguely familiar with the case of
San Francisco's rebuilding after the great fire, but my understanding is
that this was accomplished by a prolonged tax abatement on new construction
(at the urging of a mayor who was a strong supporter of Henry George's tax
policies). A similar "building boom" occurred in New York City during the
1920s as a result of a city-wide tax abatement on new construction. New York
collected property tax revenue from land values only on these properties.