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Based and Georgism-pilled. It's worse than that. If you sit on the property, but your neighbours improve it, make it a better place to live, create businesses

Based and Georgism-pilled. It's worse than that. If you sit on the property, but your neighbours improve it, make it a better place to live, create businesses that attract people, OR the public treasury builds a park, or a metro stop, or a new road, your property value increases, letting you capture the value that others worked for!

JoshTriplett 1y ago
Improvements around your property can also raise your property taxes, the next time they get re-assessed.
- lotsofpulp 1y ago
  The increase is spread between land and improvement assessment, so the vacant lot owner’s taxes don’t increase in proportion.
thmsths 1y ago
Every time I see a single level parking lot, which is basically wasting half a city block by just covering it in asphalt and painting a few lines on it, in the middle of downtown, next to skyscrapers, I am painfully reminded of this fact.
- sroussey 1y ago
  Must be grandfathered in. Could never do that now… city would want setbacks, planters, etc and reduced effective usable area by 25%.
  - potato3732842 1y ago
    Still cheaper to get screwed out of 25% capacity on a $ per space parking lot than on a $$$$$ per space parking garage. So the parking lot gets built anyway. Oh, and it winds up taking more land than it would have 50yr ago specifically because of those setbacks and planters and other garbage.
- potato3732842 1y ago
  Whenever you see something seemingly silly and inefficient/wasteful ask yourself what is preventing the more efficient solution. The answer is almost always that someone is paying more to deal with government in a slightly different way that reduces risk to them 1ac parking lot = easy and definite, just buy land, simple permits, etc. .25ac parking garage = difficult permits with many more places for various parties to whimsically drag their dick all over it at great expense to you, etc. Investing in a commercial structure carries massive financial risk because there are all sorts of steps along the way where the government has reserved the right to balloon your cost so 1mil of land, 2.5mil of structure and $100k of bullshit could potentially be 1mil,5mil,500k once everyone is done screwing you. The parking lot on $4mil of land and $100k of construction and $100k of bullshit can only balloon to $4mil, 200k, 200k in the worst case. Now, I pulled those numbers out of my ass but it's the basic workflow that underpins most of the "stupid" things we see being built.
  - bandofthehawk 1y ago
    In many places it's parking minimums that are preventing a more efficient use of space.
    - potato3732842 1y ago
      there are many, many, many, many straws on the camel.

JoshTriplett 1y ago

Improvements around your property can also raise your property taxes, the next time they get re-assessed.

lotsofpulp 1y ago
The increase is spread between land and improvement assessment, so the vacant lot owner’s taxes don’t increase in proportion.

thmsths 1y ago

Every time I see a single level parking lot, which is basically wasting half a city block by just covering it in asphalt and painting a few lines on it, in the middle of downtown, next to skyscrapers, I am painfully reminded of this fact.

sroussey 1y ago
Must be grandfathered in. Could never do that now… city would want setbacks, planters, etc and reduced effective usable area by 25%.
- potato3732842 1y ago
  Still cheaper to get screwed out of 25% capacity on a $ per space parking lot than on a $$$$$ per space parking garage. So the parking lot gets built anyway. Oh, and it winds up taking more land than it would have 50yr ago specifically because of those setbacks and planters and other garbage.
potato3732842 1y ago
Whenever you see something seemingly silly and inefficient/wasteful ask yourself what is preventing the more efficient solution. The answer is almost always that someone is paying more to deal with government in a slightly different way that reduces risk to them 1ac parking lot = easy and definite, just buy land, simple permits, etc. .25ac parking garage = difficult permits with many more places for various parties to whimsically drag their dick all over it at great expense to you, etc. Investing in a commercial structure carries massive financial risk because there are all sorts of steps along the way where the government has reserved the right to balloon your cost so 1mil of land, 2.5mil of structure and $100k of bullshit could potentially be 1mil,5mil,500k once everyone is done screwing you. The parking lot on $4mil of land and $100k of construction and $100k of bullshit can only balloon to $4mil, 200k, 200k in the worst case. Now, I pulled those numbers out of my ass but it's the basic workflow that underpins most of the "stupid" things we see being built.
- bandofthehawk 1y ago
  In many places it's parking minimums that are preventing a more efficient use of space.
  - potato3732842 1y ago
    there are many, many, many, many straws on the camel.