Hypothetical question - I'm curious as to what the impact would be.
EDIT: I'm not talking about a freebie - I'm talking about a tax shift. So, most likely, would be an increase in the land tax rates or a broadening of the base (e.g. to include owner occupiers and other exempt categories).
Superficially, one might assume that house prices might go up to compensate - but on thinking about it, this could just be a temporary reaction.
Does anyone know if this has happened before anywhere and what happened to house prices?
EDIT: I'm not talking about a freebie - I'm talking about a tax shift. So, most likely, would be an increase in the land tax rates or a broadening of the base (e.g. to include owner occupiers and other exempt categories).
Superficially, one might assume that house prices might go up to compensate - but on thinking about it, this could just be a temporary reaction.
Does anyone know if this has happened before anywhere and what happened to house prices?