Lower property taxes to the ground to save cities & nature
By Erich Jacoby-Hawkins (Robert Schalkenbach Foundation)
Taxing land value is fair, because a site’s value stems from the community around it; land rent is higher in the middle of a bustling city than in a quiet village, and higher in a town than in a remote wilderness. When realtors say the three most important things are location, location, and location they are right; the value of a site comes from what you can do there, determined by what is around it. Roads, services, and customers are all vital links for a business, so even though remote land is cheaper than land near a city, smart businesspeople pay more to be where they can easily access inputs and markets.