Idea of the Day: Dealing with empty lots
From time to time, we’ll throw out an “Idea of the Day” culled from sources here in Arizona and elsewhere. The following idea comes from a recent article in New London, Connecticut’s daily newspaper, The Day, about their city’s attempt to deal with vacant, dormat lots in their downtown, a problem experienced in many cities across the U.S., including Phoenix:
“Frank McLaughlin, a downtown developer, and Penny Parsekian, the New London Main Street CEO, said some people have started talking about reverse taxation: levying a higher tax on a property that is vacant. ‘What happens is, that vacancy devalues the property around it, and so there should be a fee for that,’ Parsekian said. ‘It’s been that way in Germany forever — you get taxed on the land instead of the property. And vacant land gets taxed at a higher rate.'”
Posted on September 5, 2008, in Downtown Vitality, Finances, Governance, Idea of the Day, Neighborhoods and tagged blight, Downtown Vitality, empty lots, Frank McLaughlin, Penny Parsekian. Bookmark the permalink. Leave a comment.