Property taxes are among the best taxes. They're highly efficient, they encourage development on underutilized land.
The Federal Reserve has also found they improve the affordability of buying homes, which leads to younger people getting into the housing market faster.
A land value tax is even better, because it doesn't financially discourage improving your property, and it strongly increases the incentive to sell or develop underutilized land.
The Federal Reserve has also found they improve the affordability of buying homes, which leads to younger people getting into the housing market faster.
https://x.com/cremieuxrecueil/status/1955007478078255107
https://www.minneapolisfed.org/article/2024/how-higher-prope...
A land value tax is even better, because it doesn't financially discourage improving your property, and it strongly increases the incentive to sell or develop underutilized land.