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Old Posted Mar 6, 2015, 1:09 AM
iheartphilly's Avatar
iheartphilly iheartphilly is offline
Philly Rising Up!
 
Join Date: Nov 2012
Location: motherEarth
Posts: 3,257
Quote:
Originally Posted by cafeguy View Post
There are two types of speculators in this city... those who sit on land and let it fall apart until the neighborhood gets better and those with lots of money who sit on land and propose CRAZY ideas to sell it off.

I wish there was a way to curb speculators of the second sort. It over-inflates land values in a way that makes it impossible for future developers to work with... ie... see Castleway plot on Rittenhouse along with a bunch of plots of land along the waterfront.
How does Philly tax the land (i.e., does the City assess the value vs. the speculator's market value)? And, what other type of holding costs, if any? Thanks!