• vin@lemmynsfw.com
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    10 months ago

    Pardon, I don’t get this - “The developer can position themselves as the “highest bidder” by an extremely small margin over the property’s historical value, denying the current owner the windfall from the recent removede in land value.” - Wouldn’t ask/bid and transaction value determine the land value? Why does the land value tax increase a lot if the best offered purchase value will be only slightly higher than historical?

    • Daft_ish@lemmy.world
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      10 months ago

      I think that’s what they are saying is exploitable. It comes down to who sets the value? Is it all just speculation. Speculation isn’t a price tag.