This is a response to a point that Craig Miller raised about Land Trusts. He said (I'm paraphrasing) that a land trust would be an added cost to non landtrust tax-paying properties.
My adnswer to this objection is they would pay the same amount of tax that they would be assessed without the land trust. Craig's objection is the same type of objection that can be leveled at the mortgage interest deduction. How fair is that tax item? it ain't fair, but it is part of the American financial landscape. If anyone tried to eliminate this they would be roundly denounced for attacking mom, the flag, and apple pie. "Fairness" is a relative concept. Land trust is a tool to save on the cost of the land. It is the same species like a condo or a coop. I don't think you would have any objections to those forms of real estate property ownership. Would you Craig? Final question. Can your daughter afford to buy a house in your neighborhood? If not, then I'd say we have an afforable housing problem. David Wilson Loring Park _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
