alt Hacker NewsProperty tax also encourages speculators to hold and trade underutilized parcels compared to land value tax. With property tax, the penalty for holding an empty parking lot in a dense urban center is much lower than under a land value tax system.
Property tax also encourages speculators to hold and trade underutilized parcels compared to land value tax. With property tax, the penalty for holding an empty parking lot in a dense urban center is much lower than under a land value tax system.
Oh this definitely needs extra tax in areas with limited supply. Unoccupied property ? 1% tax per month. Rent it or sell it.