Memphis Eyes New Hope for Revitalization with Land-Value Tax Proposal
In the heart of Memphis, a city that has been weathering some stormy waters, fresh ideas are surfacing about how to unlock its vast potential for growth and development. Among these ideas is the concept of a land-value tax (LVT). This old-school tax idea is making a comeback and is being touted as a powerful catalyst for revitalizing underused areas and creating a more equitable outcome for the community.
Unearthing the Potential of Land-Value Tax
Ben Schulman, a former local leader and now a consultant, believes that the LVT could revolutionize how Memphis approaches its developmental strategies. According to Schulman, โA land-value tax is an old idea gaining new currency.โ By taxing land based on its value rather than the buildings on it, the hope is to encourage owners to either put their land to productive use or sell it to someone who will.
But what does this mean for residents? It means that underutilized lots, vacant land, and abandoned properties could soon see a vibrant transformation. Schulman argues that this method could help level the playing field, leading not just to economic growth, but also to a more equitable development landscape.
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A Bright Future Ahead?
As citizens and leaders alike come together to tackle the city’s most pressing challenges, one can’t help but feel a sense of hope. Change is often slow, but with innovative ideas and a committed community, the future of Memphis could turn from gray to vibrant in no time.
Stay tuned for more updates and be part of the change!
Author: STAFF HERE MEMPHIS WRITER
The MEMPHIS STAFF WRITER represents the experienced team at HEREMemphis.com, your go-to source for actionable local news and information in Memphis, Shelby County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the areaโwith deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Beale Street Music Festival, Elvis Week, and Memphis in May International Festival. Our coverage extends to key organizations like the Greater Memphis Chamber and the Memphis Convention & Visitors Bureau, plus leading businesses in logistics, healthcare, and music that power the local economy such as FedEx, St. Jude Children's Research Hospital, and AutoZone. As part of the broader HERE network, including HEREBristol.com, HEREChattanooga.com, HEREKnoxville.com, and HERENashville.com, we provide comprehensive, credible insights into Tennessee's dynamic landscape.
