From: stephen@sprunk.org   
      
   On 01-Apr-15 11:57, Adam H. Kerman wrote:   
   > Stephen Sprunk  wrote:   
   >> On 30-Mar-15 23:10, Adam H. Kerman wrote:   
   >>> 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.   
   >   
   > I wasn't commenting on the need to go to referendum to issue bonds.   
   > There are exceptions, but bond issues need to pass a referendum   
   > first.   
   >   
   > Most levies that aren't for bonds are subject to statutory caps,   
   > unless there's a referendum.   
      
   There's no statutory cap on tax rates here, just the requirement that   
   _any_ tax rate increase be approved by a referendum, but voters here   
   typically won't approve such unless it's part of a bond election.  In   
   theory, the two aren't linked, but in practice, they are.   
      
   >>> 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.   
   >   
   > ...   
   > No, "highest and best use" is a concept of an ideal marketplace   
   > without building and zoning restrictions and without the ability to   
   > shift costs from your land use to others to prevent their full   
   > enjoyment of their land.   
      
   Perhaps we're talking about different things.  My land is valued (and   
   therefore taxed) based on the "highest and best" lawful use, which is a   
   two-story detached house; that I actually have a single-story house is   
   irrelevant.  I could generate more revenue by replacing the house with a   
   gas station, but that's irrelevant too because it'd be illegal.  I could   
   try to get the zoning changed, but if I succeeded, my land value (and my   
   taxes) would go up accordingly.   
      
   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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