(10-14-2022, 08:47 PM)Sneakers Wrote:

(10-14-2022, 11:09 AM)mikesez Wrote: These aren't laments.  I think there is an optimum property tax rate, and it's not so much that NYC and LA suffer because theirs is too low, it's that they are missing out on growth opportunities that they could unlock if they lowered their income and sales tax and raised their property tax to make up the difference.

What makes you think raising property taxes will stimulate growth in NYC and LA?

On its own it would not.  
It would allow you to reduce income taxes, which would then stimulate some growth.
And if the zoning was loosened up, it would further incentivize higher density development, which over time would reduce median housing costs via supply and demand.
So you'd have lower housing costs and lower income tax.  More disposable income. More growth, obviously.

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