Serendipity to get these two links together in my Google Reader feed:
It's smart development policy to revise our property tax calculations - at least in an urban environment where development is a desirable good.
Cheap land taxes mean that a speculator can park (pun intended) a desirable property for decades gambling on a big payday, to the detriment of the surrounding community. It doesn't have to be that way.
Typos courtesy of my iPhone