A large building with a lot of rentals would be taxed at a high total value, and this increased cost would be passed on to renters, thereby defeating the purpose. It should o ly apply to unrented properties.
In many places residential is already taxed less but you are right it would likely have a negative effect at high density. My guts says it would push more toward the 4 over 2’s that are already prevelent due to their cost vs return. Possibly rentals would get assesed like condos and then added together. I could see that.
A large building with a lot of rentals would be taxed at a high total value, and this increased cost would be passed on to renters, thereby defeating the purpose. It should o ly apply to unrented properties.
In many places residential is already taxed less but you are right it would likely have a negative effect at high density. My guts says it would push more toward the 4 over 2’s that are already prevelent due to their cost vs return. Possibly rentals would get assesed like condos and then added together. I could see that.