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Old Posted Mar 28, 2019, 1:19 PM
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Urbanthusiat Urbanthusiat is online now
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Join Date: Dec 2015
Location: South Philly
Posts: 1,140
The biggest problem I have with the idea of taxing lots based on their "potential" value is that nobody really knows what a lot's potential is. Who's to say what rent you could get, or whether the market could support a tower that utilizes all of the FAR? Say that the market was declining, and no towers were getting built - why then would you value a lot based on allowable FAR if it's not really realistic to expect the owner to build a tower and get a good return? That's why you can only assess something for what it is and not what it could be, because nobody knows.
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