Quote:
Originally Posted by Spocket
That's not what I said. I said land owners have been tasked with developing a plot of land within a specified time frame. If they don't develop a plot within said time frame then they may lose grants or zoning approval. This is pretty standard so feel free to find it on the COE website somewhere.
|
OK, you've got two themes going on in your prior post. You're still missing the points.
ONE:
Even if a zoning or development permit has an expiry date on it, that has zero bearing on compelling a site to be developed. History in every city I can think of has several sites that have remained fallow and let permits expire because there's no financial reason to develop a project. And when the time to develop makes sense, then re-starting the development process is pro forma. That's how the market works.
TWO:
Taxing land at higher mill rates at most might (might) negatively impact the land value, but again that has no bearing on someone deciding to make a far larger development/financial bet versus the slightly increased cost to carry the land until
the market supports development. A developer won't build until they see a good prospect for financial gains made by the much larger development bet.
if you think that you can somehow tax developers to the point that you'll force them to develop, then I can only assume that your understanding of all the relevant levers to support development is perhaps limited. Either that, or you're a city planner and have an almost negligible understanding of how real estate development functions.
You can't raise taxes and expect that business will flock to the development table.
Prev
Linear Mode
