> Property taxes...causing people who own to be priced out
That's an important price signal that the land is under-utilized. If we actually allowed denser residential then those people could sell their land to a condominium or townhouse developer in exchange for a new unit and some cash. They get to stay in the same place, their property taxes stay roughly the same, and they get to enjoy the cash. While everyone else also benefits from more housing. Win-win-win.
That's an important price signal that the land is under-utilized. If we actually allowed denser residential then those people could sell their land to a condominium or townhouse developer in exchange for a new unit and some cash. They get to stay in the same place, their property taxes stay roughly the same, and they get to enjoy the cash. While everyone else also benefits from more housing. Win-win-win.