not a tax on property or improvements on the land.
often the idea being you incentivize development because the developed land is taxed at the same or lower rate than undeveloped land.
a conventional property tax taxes the land and the improvements equally. this often disincentivized development because developing the land means paying more taxes.
it’s a tax on land.
not a tax on property or improvements on the land.
often the idea being you incentivize development because the developed land is taxed at the same or lower rate than undeveloped land.
a conventional property tax taxes the land and the improvements equally. this often disincentivized development because developing the land means paying more taxes.
But doesn’t development increase the land value as well? In high demand places the land value is the significant factor in the property anyways.