Quote:
Originally Posted by Nouvellecosse
That's certainly possible but why is he tearing shit down so soon before finalizing any construction arrangements? People could be still living in those homes in the meantime. Unless he doesn't feel like land-lording and wants to save the money on property taxes since a house is valued much higher than an empty lot. But then perhaps a vacant lot tax can help counter that.
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My point is that a vacant land tax cannot induce development on any meaningful scale in the current market.
The tax could - provided rates were high enough, i.e., much higher than 1% - dissuade someone from doing what Tsimiklis did in the first place. But it is a poor tool for increasing overall housing stock.
It is also apparent that the real purpose of the tax is to shore up municipal revenue.
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