Largest land owner in Florida I believe was the LDS. Near 690,000 acres and because they are a church, no taxes. The standard suburban home in Florida used to sit on a 1/4 acre lot. The median property tax is $2,338 a year. That would mean the LDS would be paying ~6.4 billion dollars a year in taxes if that were owned by the common family. Just making them pay taxes would make them sell off a bunch to get some of the costs back. Imagine half of that going up for space to build houses at low prices because they all the sudden fed the area for 2.7 million houses into the market.
Oops, house prices may fall, and a bunch of money just got fed into the government to build infrastructure for it.
Largest land owner in Florida I believe was the LDS. Near 690,000 acres and because they are a church, no taxes. The standard suburban home in Florida used to sit on a 1/4 acre lot. The median property tax is $2,338 a year. That would mean the LDS would be paying ~6.4 billion dollars a year in taxes if that were owned by the common family. Just making them pay taxes would make them sell off a bunch to get some of the costs back. Imagine half of that going up for space to build houses at low prices because they all the sudden fed the area for 2.7 million houses into the market.
Oops, house prices may fall, and a bunch of money just got fed into the government to build infrastructure for it.