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So property taxes are even higher than land value taxes? Because they included land plus development.
by missedthecue 4y ago
So property taxes are even higher than land value taxes? Because they included land plus development.
- rowanajmarshall 4y agoProperty taxes dissuade development, because the higher the value of that specific property the higher the tax. Land value taxes encourage development because the tax is levied on the _unimproved_ value of the land, so you're incentivised to maximize the value of the improvements of the property. At least that's the theory.