From: stephen@sprunk.org   
      
   On 30-Mar-15 23:10, Adam H. Kerman wrote:   
   > hancock4@bbs.cpcn.com wrote:   
   >> Stephen Sprunk wrote:   
   >>> Landowners just pass on property taxes to their tenants anyway,   
   >>> so there is no reason for them to prefer any other form of   
   >>> tax--unless they have no tenants, i.e. they're speculators.   
   >>   
   >> That assumes the tenants can afford to pay increased rent to pay   
   >> the taxes.  If not, the landowner is screwed.   
      
   If they can't pay their taxes, they will have to sell their property to   
   pay the bill or the govt will seize it.  Sucks to be poor.   
      
   >> A town can raise taxes overnight, but it will take a property owner   
   >> much time to adjust--be it do something different with the land,   
   >> e.g. build something or sell it off.   
   >   
   > In my state, taxes cannot be raised overnight. They have to go   
   > through notice and public hearings and a truth-in-taxation process.   
      
   In my state, property taxes can only be raised with voter approval,   
   typically done as part of a bond election since the projected revenue   
   from the higher tax rate is needed to secure the bonds.   
      
   OTOH, the delta is typically only a few basis points, which is nothing   
   compared to how much taxes go up every year anyway due to inflation.   
      
   >> Further, maximizing land use profit is limited by zoning, laws,   
   >> historical designation, etc.  Laws are passed regulating land use   
   >> for quality of life reasons.   
   >   
   > Then if laws limit land value to less-than-highest-and-best-use, the   
   > land will be assessed accordingly. That's the point.   
      
   Well, the "highest and best use" of land typically accounts for zoning   
   and other restrictions.  IOW, it's the highest and best _lawful_ use.   
      
   >> Government needs taxes, and taxes everything--land, income,   
   >> commerce--to the extent it can get away with it.  In many areas,   
   >> official land "valuation" is utter b/s.   
   >   
   > Assessments are public, hancock, so they can't hide it. That's not   
   > true of anything else that's taxable.   
      
   I agree that sometimes assessments are BS; NYC in particular has a   
   horribly broken assessment system, but that's a natural consequence of   
   having essentially no property taxes there.  The govt tends to do a much   
   better job of it when it actually matters--if only because the voters   
   (and courts) force them to.   
      
   S   
      
   --   
   Stephen Sprunk         "God does not play dice."  --Albert Einstein   
   CCIE #3723         "God is an inveterate gambler, and He throws the   
   K5SSS        dice at every possible opportunity." --Stephen Hawking   
      
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