Land Lines January 2009
Features
Despite the challenges of overhauling existing policies and implementing a bold agenda for infrastructure investment, the decisive election of a new President on a platform of change presents a real opportunity and sense of momentum for action in Washington.
Although property taxes continue to be a fundamental and important revenue source for local government, they also remain exceptionally controversial. Still, the topic of property taxation seems to be one for which improved education and understanding is especially necessary.
We suggest that a better approach is to link IH to the ongoing process of rezoning—either by the developer or by local government initiative—thus treating it explicitly as a vehicle for recapturing for public benefit some part of the gain in land value resulting from public action.
