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The land is nearly free now. You can't build things in Detroit and make a profit, construction costs outweigh sale price or possible rents.
by bagels 3y ago
The land is nearly free now. You can't build things in Detroit and make a profit, construction costs outweigh sale price or possible rents.
- mactrey 3y agoThe point is, currently if you build things then you pay higher tax. The current tax structure disincentivizes building things. We don't know what people would build without that disincentive - maybe still nothing, as you are suggesting.
- caminante 3y ago> The point is, currently if you build things then you pay higher tax. You're missing THE point. Your comment is too general. 1. You'll only pay higher taxes if your ratio of land/improvements is above a threshold (TBD). 2. The article says that the proposed change would lower taxes for 95+% of the population.