Comment 112135

By ergopepsi (registered) | Posted June 09, 2015 at 15:58:21 in reply to Comment 112132

I think many property owners would argue that the value of their land would increase if the building was torn down. If it is a heritage property or a building that needs serious repair potential buyers would be wary as they won't want to take on someone else's problem. The seller would be forced to reduce asking in order to offload the property. However, if the building is neglected to the point where it has to be torn down the 'problem' is removed. The land suddenly becomes more attractive to buyers and thus commands a higher price. So, if municipal assessments don't take into account that reality then I would say tax them based on an independent assessment that a bank would require for financing for example or on the asking price once the property hits the market.

Personally I'm not entirely convinced that preserving heritage properties helps a city that much. I've always been a fan of the natural progression of growth and I think that provided new buildings have a style that enhances the landscape it is a fair trade off to tear down old buildings to bring in something new. http://www.spiked-online.com/newsite/art...

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