Do owners and tenants have a “duty” keep property in use?
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Our prevailing property tax system rewards those who sit on valuable land and leave it idle, while punishing with higher taxes those who put it to productive use. And for that, our buddy the speculator just wants to say, "Thanks, neighbor."
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Even the fastest-growing cities have them: under-utilized lots in the center of town whose owners don’t want to develop, but also don’t want to sell. Often, the property tax code rewards this kind of land speculation.
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