Re:Big-box retailers are slashing their property taxes throu...
by breakintheweb on Thursday November 15, 2018 @04:24AM
(#18457979)
I think there would be a big problem with sentimental value also. For example, the old local store that is family owned or the house that you built with a family member who is now deceased.
In theory, this idea is really good, but I think it needs a certain amount of refinement.
The largest, obvious problem is that transaction costs are enormous.
That might be mitigated by adding a multiplier to the forced sale value: say 1.3 or 1.5. I have no idea what an appropriate value is, but it seems like the sort of thing that could be determined empirically.
On the commercial side, there's all sorts of complications (e.g. tenant improvements) that I just don't know enough about to even talk about intelligently.