> "Well, I would build an extension to my house, but that would raise my property taxes."
Yep, I hear it all the time! Keep in mind that effects here will be related to property values and improvement values. One of the most common things people consider when renovating is how it will impact resale value. If taxes only impacted land then you would see a much better return on investment for every single renovation because your building/renovation is not taxed anymore, so the sale value of a property will increase by a larger amount than it currently does if you where to improve it.
Yep, I hear it all the time! Keep in mind that effects here will be related to property values and improvement values. One of the most common things people consider when renovating is how it will impact resale value. If taxes only impacted land then you would see a much better return on investment for every single renovation because your building/renovation is not taxed anymore, so the sale value of a property will increase by a larger amount than it currently does if you where to improve it.