Still on the land use charge... I was privileged earlier today to be taught by Professor Robert Shiller (Sterling Professor of Economics at Yale and Nobel Laureate), he taught about how he founded a company, Case Shiller Weiss Inc. In the 1990s.
Case Shiller Weiss Inc was setup to offer online mortgage service. It was the first of its kind in the early 1990s.
The company's service was to give instantaneous price estimate for individual homes based on some models that the promoters of the company (Karl Case, Robert Shiller, Allan Weiss) came up with.
All the Client needed to do was to give description of the house and the street name and almost instantly, the client would get a price estimate which is equivalent to the value of the property.
I know we have all condemned the new land use charge law, and understandably so, but can we for once look at some positives and harness some opportunities that the new law has presented?
Can we replicate what Prof. Shiller &Co did and add some value? Thank goodness that the LUC rates are being negotiated but one thing that will clearly remain is the that the value of the properties will still have to be determined anyway.
There's provision for self assessment and home/property owners will still have to determine the value of their homes.
We shouldn't throw the baby out with bath water.
Unroll @threadreaderapp
