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I think the tax code even incentivizes demolition in that the taxes for sales of bare land versus land with a structure on it are less.
by Tiktaalik 5y ago
I think the tax code even incentivizes demolition in that the taxes for sales of bare land versus land with a structure on it are less.
- MarkSweep 5y agoIn constraint, California tax policy incentivizes keeping around crappy old buildings. If keep the old building, Proposition 13 limits how much your tax can go up. If you build a nice new building, the state punishes you but reassessing the value of your property. This can greatly increase your property tax if you have owned the property for a while.