Single Tax (Noun)
Meaning
A system of taxation in which a tax is levied on a single commodity (usually land).
Classification
Nouns denoting possession and transfer of possession.
Examples
- A single tax system, like the land value tax, focuses on ground value, leaving buildings and other improvements untaxed.
- Henry George popularized the concept of a single tax as a more efficient means of funding public expenditure.
- The single tax system, where only a plot of land and its resources are taxed, can stimulate economic growth in certain ways.
- Proponents of a single tax claim that such a system will encourage the development of underused or abandoned land for agriculture use.
- In Canada and the US, single tax systems were proposed or implemented in the 19th and 20th centuries for taxation reform and as part of the broader social movement.