I don't completely buy the property value argument. Cities like them being high too because it means more tax revenue and they're not afraid of making bylaws to enforce it. So for example, when one gets a building permit to an exterior renovation, the city will calculate the square footage of siding vs brick before and after, with the requirement that the amount of brick doesn't decrease. Because any less lowers the property value.
Not all cities are like that. The one I'm in isn't. There are also laws in many cities where they can't reappraise the tax value of the home without a significant renovation. This is to keep elderly people in their homes who are on a fixed income. It's a lot more complicated than, "tax good," but yes, that's the gist.
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I don't completely buy the property value argument. Cities like them being high too because it means more tax revenue and they're not afraid of making bylaws to enforce it. So for example, when one gets a building permit to an exterior renovation, the city will calculate the square footage of siding vs brick before and after, with the requirement that the amount of brick doesn't decrease. Because any less lowers the property value.
Not all cities are like that. The one I'm in isn't. There are also laws in many cities where they can't reappraise the tax value of the home without a significant renovation. This is to keep elderly people in their homes who are on a fixed income. It's a lot more complicated than, "tax good," but yes, that's the gist.