CLTRaised

I see the benefits of it in regards to parking lots, especially Uptown, it would definitely motivate development for underutilized areas in developing areas. I think my main concerns are when it comes to residential areas. The more I think about it, the more I think my issues come down to property taxes rising due to nearby properties having an increase in value, which is likely the reason why these lower income property owners are in their current predicament and likely would be in any property tax reform. Maybe a neighborhood wide moratorium on revaluations in districts that are seeing drastic changes in property values that allow property owners to plan and adjust to future rises in property taxes could work? With a land use tax, would areas of abandoned/mostly vacant strip malls see a rise in property taxes? I would think that would accelerate the decay of areas that are already teetering on the edge of going under. However, maybe it would inspire growth out of necessity to turn a profit but there isn't a guarantee that a developer would take on the project. Are there any cities that currently impose a land use tax? I think using it for areas around Uptown to see how it carries out would be useful insight before applying it to the whole city.

Would the land value tax not just punish all landowners in Charlotte? I imagine it would expedite the rate of punishing lower income land/property owners that are close to areas experiencing development, sure it would cause these country club people to pay more, but it would also cause property taxes to skyrocket for practically anyone in the city or someone with a larger lot. Maybe I am misunderstanding the core proponents of the land use tax, but to me it seems like a slippery slope allowing a third party to attribute qualities to property that do not exist presently. Further, unless changes were made to how home valuations are done, if one property is assessed to a greater amount due to its potential use, then all the surrounding properties would also be increased as well once that first property is sold, no? I would assume there would be an unspoken cap to how much a property value could rise to, especially if the lot is smaller but with the ability for an assessor to just simply state that a certain type/amount of properties could be placed on the lot seems unnerving. I could see an argument for commercial property owners to pay land use taxes, but then there would still be an issue with small commercial property owners that own the buildings that their businesses operate. Like I said, maybe I am confused on the inner workings of this tax method, but I have seen the idea of land use taxes being enacted frequently in the last few days in numerous cities and to me it just does not seem like it would be beneficial for anyone except the city tax coffers and developers that are eager to get their hands on certain properties around the city from citizens that can no longer afford their property taxes post revaluations. Based on the article, the current method is also punishing lower income people, I believe that homeowners should not have their property taxes reassessed until their home is sold to a new owner, or if new city amenities are constructed near the property. It is not the property owners fault if the land becomes more valuable to the city throughout the duration of their ownership, they cannot see the future and the amount of development that is coming, or necessarily even want it. I do not agree with people that support restrictions on developers to prevent gentrification, the root of the cause is with the city/county governments, unfortunately they seem to want to complain about these issues impacting lower income residents but do nothing to curb their part in the issue. If taxes were increased once transactions are made then the developers/owners of the newer larger developments would be monetarily responsible for the new tax burdens placed on infrastructure, not the surrounding residents. Maybe all of this is idealistic thinking, or maybe I just am confused, but the solution seems simpler than what people are currently suggesting.