Land is back, it should be taxed, it can be taxed

Land is back. The increase in wealth the second half of 20th century arose from housing and land. It should be taxed. We introduce land structures Judd’s standard setup: first best optimal taxation achieved with a property tax on requires no capital. With positive taxes rents, still possible but subsidies to rental investments, either differential rates or imputed rents. can Even absent taxes, one it indirectly reach Ramsey-second capital rent steady-state. This result extends dynamics under restrictions parameters.