Quote:
Originally Posted by McBane
Yes, a tax code based on land value (in turn based on the zoning code and location) rather than improvements. Today, as I understand, under-utilized lots (parking lots, grass fields, and places like the Rite Aid on 21st and Walnut) pay less in real estate taxes than do owners of high-rises. This, despite the fact that high rises contribute FAR more to the city's economy than does an under-utilized lot. Taxing these speculators would force them to develop, sell, or at least pay a steep price for maintaining an eyesore.
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This must be the way to attack neglect, long-term speculation, and underutilization of land.
I assume the reason it never hits the legislators agenda is that the parking lot/property speculation lobby (folks like, say, Zuritsky) is pretty formidable.
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