Undeveloped Land Value Taxation in Saudi Arabia
Abstract
The problem of housing shortage has surfaced in Saudi Arabia in recent years as the disproportionately young segment of the population was encountered with sky-rocketing land prices. This article proposes undeveloped land value taxation as a solution that will reduce residential land prices. A brief background on the housing problem is presented followed by the economic justification for land value taxation in light of the contributions of 19th century economist, Henry George.