Quote:
Originally Posted by Spork
You don't need to get a letter if you are not audited.
And for the record, there are lots of restrictions on how one's personal property can be used, so this is no more of an intrusion than the city telling you that you cannot have a pub in your home, have any more than 5 unrelated persons living together in your home, or not operating a B&B in your home.
I agree that the paltry 1% won't do anything to decrease the demand for land banking in this city, but what if it does? That's great. If it doesn't? Maybe they will raise the tax to 5% next year or take other substantial, meaningful steps to making this city more affordable.
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In the cases where the city is in intruding on personal property rights it should be based on public safety of to minimize the impact one property has on the neighborhood.
I would have thought land banking and accumulation would be a positive for the city housing stock. You accumulate neighboring property, bulldoze and then build a 4-40 story building. Why would any administration concerned about increasing the housing stock every want to try to discourage that behavior.
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