Quote:
Originally Posted by someone123
A lot of owners are primarily investors who don't necessarily have much direct interest in making the street look nice. A lot of the owners literally only care about the percent of return they make on their investment every year. If they're getting rent or their property values are going up they don't experience much pressure to improve their properties or sell.
Lots of cities have absentee landlords who sit on properties for decades, hoping to one day cash in by selling off their lot to a developer who will build a highrise. This phenomenon only persists because of broken tax systems that provide a disincentive to develop and don't penalize property owners who have a negative impact on their neighbours. It's a classic "race to the bottom" situation that requires government intervention to solve.
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Someone, what sorts of tax incentives could be imposed? Also, is that something that should or could be in the (deservedly) berated Regional Plan?