Everyone? Really? Because half of my friends are unemployed, and every single one has a university degree. And who starts building and then doesn't finish it because they don't want it to be taxed?
That's how it is in Mexico, too. They leave some unfinished faux-second-story attached to their building and never pay full property tax on the value of property-with-one-completed-story. Re: "who starts ..." why don't you search before you post?