Comment 60500

By Tybalt (registered) | Posted March 02, 2011 at 01:30:58 in reply to Comment 60478

Thanks for making this point:

poorer, less valuable residences in the lower city > are paying taxes at a higher rate per dollar of value, it is not a progressive tax at all. It's a regressive tax

A central problem is that the suburbs derive benefits from the urban density they don't share, then because of their lower density they claim breaks on tax contribution to maintaining that dense centre that drives their value. The net result is an outflow of capital from the centre to the suburbs, which accelerates all the more as new developments are built further and further out.

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