City looking at hiking taxes on vacant properties

Anyone familiar with the abandoned manufacturing plants and vacant lots scarring Connecticut's largest city has shared the same thought: Just get rid of the blight and build something already! City officials are considering taxing at least some of those underused properties at a higher rate to compel owners to stop "land-hoarding" and either get more aggressive about redevelopment, or sell to someone who is. The City Council is poised Monday to pass a resolution allowing Bridgeport to explore becoming the state's guinea pig for so-called land value taxation -- taxing undeveloped property more than developed land.



via Bridgeport Newswire http://ift.tt/1uLiQYH