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Charlotte Amalie
Sunday, June 23, 2024
HomeNewsArchivesCreative Taxation Can Help Property Rights

Creative Taxation Can Help Property Rights

Dear Source,
Many stateside municipalities have solved the problem by purchasing development rights from landholders, thereby reducing taxes substantially. The property can only be used for agriculture, animal grazing or similar non-impact environmental purposes. The land cannot be developed and, if sold, the restrictions go with the property.
In the Channel Islands, UK, there is an A and B tax schedule. One is for those "barn there" and the other for off-island folks. Indigenous folks can sell their land to off-islanders thereby changing from A to B forever, but the reverse is not permitted. Therefore, locals can retain and develop their property if they continue to hold ownership.
Creative taxation is possible. It takes serious determination to solve existing problems.
Marilyn Mackay
North Stonington, Conn.

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