May 3, 2013 at 10:03 am
#789408
transplantella
Participant
All entities extracting property taxes will benefit from high density urban development based on the assessed value of the property.
You build one house per lot you get X amount of tax money.
You build 30 apartments on the same piece of land your tax revenue increases exponentially.
You assume correctly.
And then of course there is the lender. The bank lends on one piddly house per property or better, lends millions on the same multi-dwelling property reaping bountiful interest on a [probable] shorter term higher interest commercial loan.
Moneh, moneh, moneh.