Property tax based on land values is very progressive, however, it is a terrible way of assessing taxes.
Heck if you don't want to look at the points above, or outrage from business owners, look no further than Vancouver where elderly folks have been made to leave their homes simply because the assessed value skyrocketed and could no longer afford the cash property taxes. Sure they look wealthy on paper, but its all tied up in the house they can no longer live in.
They certainly are not using more services than any other dwelling.
And FYI - the argument that the inner city subsidizes the sprawl is/was correct given the amount of new infrastructure costs the city bears on new developments, rather than the building owner (via developer) paying for it all. I know there was calls for some change there, but not sure if the rules ever changed on getting new homeowners to fund their fair share.
|