In a lot of places, including in metro Phoenix, property tax rates on land are often based on the land’s current use value instead of its current market value.
Have you read Progress and Poverty by Henry George? He wrote the original book on how land speculation is the driver of economic inequality as landowners benefit from the bounty of nature and government spending while also charging excess rents on the tenant classes
Have you read Progress and Poverty by Henry George? He wrote the original book on how land speculation is the driver of economic inequality as landowners benefit from the bounty of nature and government spending while also charging excess rents on the tenant classes
Haven't read it but have read a ton about it. Land value taxes make a ton of sense.