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ndrosenTo continue with the presentation by Gordon Abiama and Lindy Davies on July 28, "A Tale of Two Megacities," Lindy said that New York City is in the midst of an unhealthy building boom these days. There are bizarre incentives to build supertall luxury condominiums. In Manhattan, the property tax as a percentage of sales price is 0.77% for condominiums, 5.95% for rental housing.
He mentioned immigrants, legal and illegal: three in ten people in New York City today were born outside the USA. New York is a sanctuary city.
After a subway stop was built, five and a half acres near it were sold for $124 million per acre. New York is he real estate capital of he world.
Lindy Davies provided some financial information for New York City:
The city government's total expenses, in millions of dollars, are $85,238.
From property taxes, $25,812.
From other taxes, $31,075.
From federal grants, $7,811.
From state grants, $14,419.
He referred to the Henry George Theorem, that local government spending for local benefit, if it is worthwhile, can be financed out of the increased land rents it creates. He said that if New York City imposed full land value taxation, it could tell Trump to buzz off.
I made one note regarding Q&A: Gordon Abiama said that land is not commodified in African tradition.
He mentioned immigrants, legal and illegal: three in ten people in New York City today were born outside the USA. New York is a sanctuary city.
After a subway stop was built, five and a half acres near it were sold for $124 million per acre. New York is he real estate capital of he world.
Lindy Davies provided some financial information for New York City:
The city government's total expenses, in millions of dollars, are $85,238.
From property taxes, $25,812.
From other taxes, $31,075.
From federal grants, $7,811.
From state grants, $14,419.
He referred to the Henry George Theorem, that local government spending for local benefit, if it is worthwhile, can be financed out of the increased land rents it creates. He said that if New York City imposed full land value taxation, it could tell Trump to buzz off.
I made one note regarding Q&A: Gordon Abiama said that land is not commodified in African tradition.
