Land Value Covenant: Difference between revisions
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(Created page with " =Description= "A Land Value Covenant is a voluntary agreement made between a landowner and a tax collecting government authority whereby the owner of the particular plot of la...") |
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Latest revision as of 16:12, 19 May 2011
Description
"A Land Value Covenant is a voluntary agreement made between a landowner and a tax collecting government authority whereby the owner of the particular plot of land pays a regular sum to the taxing authority.
The land owner agrees to pay a regular monthly sum to the taxing authority in perpetuity. In the event of the land owner selling the land, the obligation falls on the new owner. The obligation is thus a financial burden that stays with the land, implemented by means of a legal covenant on the land." (http://www.systemicfiscalreform.org/Home/WhatareLVCs.pdf)