[ams6110]

Thanks, that explanation does help. Sounds like it would also do away with the fights that businesses get into around here about whether they should be paying property tax on the value of the "dark" building (e.g. as if it were vacant) or based on the value as an occupied and active business.

On the other hand, dense development incurs more social costs. There will be more demand for emergency services, utilities, traffic control, etc. that generally are at least partly funded by the increased property tax on high density improvements.