Victor_Korchnoi t1_iu08t29 wrote on October 27, 2022 at 4:25 PM

Reply to comment by giritrobbins in Why Is There Such Little Resistance to New Office Buildings, Life Science Labs, Etc.? by OperationSpringAwake

That’s the best thing about allowing more dense development, they come with tax revenue. The 200 unit apartment building is paying a lot more property tax than the funeral home it replaced.

giritrobbins t1_iu0dy0b wrote on October 27, 2022 at 4:58 PM

I know but I meant more as the concept of value capture. I currently own near a commuter rail station and my property would increase likely significantly in value if it became an orange line stop. The city or state should tax some of that increase in value to pay for those improvements.

https://www.lincolninst.edu/key-issues/value-capture-property-tax