Wednesday, January 12, 2011

Eminent Domain In China

 In USA they wear uniforms...  but here in Shanghai they use different means...


I believe it was ancient Greece where property taxes were based on the valuation you set on your own property.  What you valued you home at is also an offer for sale:  anyone willing to buy it at that price could do so.  No eminent domain, but all property for sale.

It is actually a brilliant system:  no assessor, since each parcel is priced exactly right.  If someone thinks they can do better with the property, let him buy it at exactly the price the seller says so.


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