[TimPC]

I think it's fair to say efficiency and fairness are sometimes competing concerns. For instance, I disagree on shifting only property taxes to LVTs because I think they benefit condo developers at the expense of homeowners. Any tax shift has winners and losers and while there might be a slight overall benefit to the shift itself the individual outcomes can vary dramatically. I'd argue that we do have to have some degree of consideration for individual outcomes as well.

[bombcar]

Arguably the whole point of the tax is to convince those homeowners who’s land would be better valued as condos to convert to condos.

You already see this in areas that don’t prop 13 tax rates - as land values rise the land gets redeveloped.

[TimPC]

I live in Ontario which doesn't have prop 13 and I think development is still far from straightforward or simple. We do see some condo development but I'm not sure how much not having a prop 13 like policy has to do with it. It's almost impossible to measure this given the difference between regions extends far beyond a single tax law.