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NJ has the highest property tax (I think). Note it’s property tax not land value tax so while it has some effect on real estate prices it doesn’t quite create t
by erentz 5y ago
NJ has the highest property tax (I think). Note it’s property tax not land value tax so while it has some effect on real estate prices it doesn’t quite create the same incentive for more efficient land use.
- nine_k 5y agoI'd say it may have an inverse effect. Build a nice house on your lot, pay a ton every year. Stay in a shack on that same lot, save a ton every year.
- Ericson2314 5y agoThe value of the land still counts towards the total property value, so it's not an inverse effect, but it does decay the more is built until there's no marginal incentive one way or the other.