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Property taxes on land zoned for residential use are 6x more expensive if left bare. That’s why Japan has an akiya plague, because even a dilapidated building w

• Tiktaalik 6mo ago
  You're right. I'm not sure how I got mislead or misremembered the dynamic here. I thought there was a specific clear tax benefit but doesn't seem so. There are tax benefits for new buildings for a limited time so maybe that's what I was thinking about and became confused.
  • throwaway2037 6mo ago
    Leaving aside your mistake, you raise a great point. Why are there so many empty lots in central Tokyo for sale? It makes no sense financially! Maybe they assume they can tear-down the existing structure and sell it faster than the tax penalty will hit?