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Property taxes dissuade development, because the higher the value of that specific property the higher the tax. Land value taxes encourage development because
by rowanajmarshall 4y ago
Property 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.