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It would also help incentivize real improved use of expensive property, and less speculative investment without improvement, perhaps leading to lower prices (th
by reverius42 9d ago
It would also help incentivize real improved use of expensive property, and less speculative investment without improvement, perhaps leading to lower prices (thus lower land value, and lower taxes), perhaps reaching some kind of equilibrium with better improved land use in expensive areas, less speculation resulting in the expensive areas being less expensive, and more equitable taxation than our current system.
- estearum 8d agoYes basically you should expect to see significant densification with significant competition in how appealing to the market you can make that level of density (since you as the developer keep all the upside).
- s1artibartfast 8d agoI would actually expect to see a reduction in densification if a LVT is more expensive than current property taxes. While it obviously encourages putting high value land to greater use, it also encourages avoiding high value land itself. If the tax burden of your San Francisco house or office doubles, you may look into relocating to where land is cheaper. It obviously depends on the rates.