Once Upon A Time, Growth Was Good
William Fulton explains how a citizen anti-tax initiative passed 25 years ago has turned out to be a major force in shaping the urban and suburban landscape we see throughout the country today.
Once upon a time, growth was good. Not just because there was a philosophy that more people improved a community -- or a state. But because there was a financial system based on the assumption that as communities grew, the value of their properties would grow commensurately. And so paying for the cost of new growth by taxing everybody -- or, at least, all the property owners -- was fair, because in the end everybody would benefit. All that went out the window 25 years ago this week.
Thanks to Chris Steins
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Published on Monday, June 2, 2003 in
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