> My local taxes depend on my land value + my house value
Are they separate line items? Or combined? The difference matters.
My condo is taxed based on the whole value of the unit- which is something like 1/2 of the cost of a house in the same neighbourhood, which means I'm taxed about 1/2 of what they are. But I use 1/100th the amount of land they use. Meanwhile, the cost to the city in terms of infrastructure (pipes, roads, drainage, etc) is much lower than the houses in the subdivision down the road.
In effect, today's laws makes high-density-home owners subsidize the high cost of maintaining subdivisions by taxing on total value only. Switch it to 50% value and 50% land use, with explicit line items for each and you'll see more demand for high density housing.
Are they separate line items? Or combined? The difference matters.
My condo is taxed based on the whole value of the unit- which is something like 1/2 of the cost of a house in the same neighbourhood, which means I'm taxed about 1/2 of what they are. But I use 1/100th the amount of land they use. Meanwhile, the cost to the city in terms of infrastructure (pipes, roads, drainage, etc) is much lower than the houses in the subdivision down the road.
In effect, today's laws makes high-density-home owners subsidize the high cost of maintaining subdivisions by taxing on total value only. Switch it to 50% value and 50% land use, with explicit line items for each and you'll see more demand for high density housing.