THE KING SUGGESTS A LAND TAX.

Taranaki Daily News, Volume LII, Issue 204, 2 October 1909, Page 4

THE KING SUGGESTS A LAND TAX.

We have guud authority for the belief • 'hat th' King approves of the Land Taxes in the Budget (says a Home ? paper). * , 1 The King, w.'ieu he was Prince of i Wales, was a member of the Royal Com--1 mission on the Housing of the Working I Classes in the United Kingdom, which reported in 188.), and he appended his signature, with others, to a drastic p r o-, 1 posal recommending that the "site value| 1 of vacant land should be ratod at 4 per l • cent, of its selling value." j The King and the other Coinmis-I • sioners declared that "the present incs- - denee of local taxation stands seriouslyl , in the way of all progress and reform."! » "At present," they added, "land avail-' . able for building in'the neighborhood of , our populous centres, though its capital! r value k very great, is probably produei iug a small yearly return until it is let I - for building. ' 1 "The owners can thus afford to keep! . their land out of the market and to part' i with only small quantities, so as to raise! • tho price beyond the natural monopoly 1 1 price which the land would command | s by its position. Meanwhile the general' « expenditure of the town on improve-; • ments is increasing the value of their] I property. If this land was rated atJ ; sav, 4 per cent, on its selling value, the, • owners would have a more direct incen--5 tive to part with it to those who are' ' desirous of building, and a twofold ad--1 vantage would result to the community. 1 > '"'First, all the valuable property ; would contribute to the rates, and thus • the burden on (he occupiers could be diminished li\* the increase in the rate- ? able property. Secondly, the owners of , the buiKlin; land would be forced to | • ollVr (heir hind for sale, and thus their competition with one another would briny down lh" orice of birldmj? Ja/ul i 'Hid s<> dimitiirdi the tax in the -diape ot » ground rent, or price paid for land which ; i< now levied on urban enterprise hv adjacent landowners—a tax. be it i'-j membered, which is im recompense for any industry or expenditure on their part, but i* the natural result of the industry and activity of the townspeople t heii'sel yes." The Commissioners add that- they "would recommend that these matters should be included in legislation when the law of rating coes to be dealt with J>y Parliament." The recommendations were made byi the King and the other Coniniissioncis" just twentv-four Years ago. J -L L- I