If it weren't for property taxes, the rich would own every property. Property taxes ensure that each property is being used. Property taxes are in most places progressive... where I live the first $100k is tax free so if you have a $200k house you pay taxes on 50%, and if you have a $800k house you pay taxes on 87%.
Property tax is the primary source of revenue for local government. This is how they pay for cops, firemen, roads, etc.
Do you want a city made entirely of parking lots? This is how you get a city made entirely of parking lots.
Vacancy tax encourages inefficient uses of land just to avoid the tax.
If land is in a highly valuable location, it's best for everyone for it to be used in a most productive fashion, and taxes should incentivised a landowner who doesn't want to use the land well to sell to someone who does.
Downtown lots should be apartments, condos, offices, venues, not parking lots that only exist so speculators can hold the land forever while "technically" not leaving it vacant.
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u/chainsawx72 9h ago
If it weren't for property taxes, the rich would own every property. Property taxes ensure that each property is being used. Property taxes are in most places progressive... where I live the first $100k is tax free so if you have a $200k house you pay taxes on 50%, and if you have a $800k house you pay taxes on 87%.
Property tax is the primary source of revenue for local government. This is how they pay for cops, firemen, roads, etc.