““Property taxes - particularly those which tax only or primarily the land and not the improvements - are the closest approximations we have today to community land contributions. For this reason, property taxes and home affordability rates - which is to say, land affordability rates - are inversely correlated. Land contributions are necessary for the vitality of every community and city. For example, urban sprawl is a consequence of not capturing sufficient land contributions and thus enabling inefficient land use. Community land contributions lead to a more intensive use of land and encourage the greening of a city's surroundings, as the existing population will tend to cluster closer together. Land contributions also encourage the restoration of blighted areas.””
