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> Let's say because of rising taxes, a bakery or a shop has closed and a lawyers office has opened in that spot. Taxes will rise in neighborhoods where improve
by engineer_22 3y ago
> Let's say because of rising taxes, a bakery or a shop has closed and a lawyers office has opened in that spot.
Taxes will rise in neighborhoods where improvements have happened. To determine the neighborhood is improving, we need a metric, for instance traffic. We expect the donut shop in an improved neighborhood to see increased traffic and more sales. If traffic doesn't increase then land value hasn't actually increased and the taxes have been applied inappropriately. Maybe we can come up with a better indicating mechanism for land value, I admit I have not read Henry George's work.