Quote:
Originally Posted by memph
Taxing land value more heavily than building value would also encourage property owners to make more valuable improvements to their properties than just surface parking.
|
Or it could just lead to a bunch of tax defaults and vacant lots.
I mean, yeah, in theory, your idea makes sense, but a place like Little Rock is an extreme outlier in even the ultrasprawly U.S. context. I doubt property owners aren't building because the tax system is weirdly incentivized; they're aren't building because there's no demand.
But maybe if we had these tax incentives fixed around 1950, we would be in a better place today.