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If land is actually abandoned, taxation makes no difference. Land with abandoned biuldings can often cost more to redevelop than green fields (asbestos remedia
by sandworm101 1y ago
If land is actually abandoned, taxation makes no difference. Land with abandoned biuldings can often cost more to redevelop than green fields (asbestos remediation, buried oil tanks etc). An owner dies, a holding company folds, and land sits vacant. Tax it all you want, nobody is around to pay. Of course the city or other government can take the land, but they dont want it either.
- Yeul 1y agoThe owners of polluted industrial sites always manage to disappear when it comes time to clean them up. Socialise the losses and all that.
- MetaWhirledPeas 1y ago> Tax it all you want, nobody is around to pay Why wouldn't this land immediately be forfeited to the city?
- sandworm101 1y agoNothing in land is ever immediate. Is it worth the legal efforts to force throufh a forfeiture? Does the city even want the land? Perhaps the land is tied up in a disputed estate. Such things can take a decade to resolve. Perhaps some holding company is using the land as an investment vehicle and is paying the taxes, if any are due. Owners have the right to let land sit.
- acdha 1y ago> Owners have the right to let land sit. Yes, hence the point of a vacancy tax, but that’s not relevant in the scenario here where they’re not paying. Having a short period, especially for non-residential property, is a good way to discourage tax cheating and it also helps with cleanup: the best time to deal with toxic waste was when it was generated but the second best time is now and absentee owners aren’t going to volunteer to do that. Seizing the land at least lets the government plan to do something useful with in an orderly manner before it starts causing problems too big to ignore.
- bombcar 1y agoEven if it does escheat to the city, the city has to pay for the various abatements.