If a natural disaster hit your city, would your tax revenue pay for the damage, or would you be underwater—literally and figuratively?
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Mansions on large lots, not rundown properties in low-socioeconomic-status neighborhoods, are the real blight on a community’s financial health.
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As an ad hoc committee recently discovered, owners of higher-valued properties are more likely to receive a tax break…simply because of bad data.
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If you don’t own a home, and don’t have plans to own one anytime soon, you might think property taxes don’t concern you. But, what if we told you that they definitely do?
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Across the country, the property tax system is causing economic hardship for homeowners—and it’s because the system itself is flawed.
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Join the Urban3 team as they wade past Oklahoma City’s glittering amenities to take an up-close view of the real economic engine under the shiny enamel hood.
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Conventional approaches to property taxation can be summed up as follows: “No good deed goes unpunished.” The Land Value Tax is the surprisingly simple alternative—and it can help spur the kind of growth we actually need.
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Property tax cap laws have been around for decades and are now on the books in 44 states — most recently in Texas. So why are we still surprised when they make our local communities more fragile and less resilient?
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If local governments are going to lose money on residential development, then they have to make it up on commercial development. That’s a risky business model, one that doesn’t pencil out.
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