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A comment on Detroit wants to be the first big American city to tax land value. Parent comment

Re:Detroit wants to be the first big American city to tax la... by ethanbond on Monday October 16, 2023 @09:08PM (#37908974)
Why would the land value spiral upwards? At some point the land becomes not worth buying/developing, so there’s still downward pressure on price.

Or are you suggesting the tax rate will spiral upward infinitely? Again, at some point that just means it’s not worth buying the land unless the productivity possible on it is through the roof as well.

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Re:Detroit wants to be the first big American city to tax la... by somethoughts on Monday October 16, 2023 @09:23PM (#37909137)
Here would be an example:

North Texas homeowners getting 'sticker shock' with new property tax appraisals

https://www.youtube.com/watch?v=Nu5jAqB88tc

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Re:Detroit wants to be the first big American city to tax la... by eru on Monday October 16, 2023 @09:28PM (#37909188)
That's an increase, but is it a spiral?
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Re:Detroit wants to be the first big American city to tax la... by somethoughts on Monday October 16, 2023 @09:45PM (#37909351)
Agree - for most people its an increase, but for a homeowner on a fixed income it can feel the equivalent to a spiral.
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Re:Detroit wants to be the first big American city to tax la... by ethanbond on Monday October 16, 2023 @10:14PM (#37909644)
The “spiral” question is because I’m looking for a positive feedback loop. Just an increase (even a substantial one) is way less alarming.
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