Split-value tax proposal wins support as a local tool to encourage development
Subcommittee members discussed a split-value property tax—taxing land separately from improvements—to discourage land-banking and encourage building. Speakers noted several Virginia cities have adopted the approach and suggested Arlington could be the first county to pursue it.
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Subcommittee members discussed the split-value tax as a potential tool to encourage development on underused parcels. One member outlined the policy concept: tax land and buildings separately so the land bears a higher relative tax burden while improvements are taxed at a lower rate, reducing incentives to hold vacant land for speculative gain and encouraging development.
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