From New York to Austin, America’s biggest cities are littered with vacant plots of land.
WSJ explains the unseen role property taxes play in the country’s housing shortage.
Photo Illustration: Amber Bragdon
0:00 What’s wrong with the current U.S. property-tax system?
0:41 Why taxes go up when property improvements are made
2:22 Analyzing the scale of vacant land in Austin
3:52 The pros and cons of a land-value tax
WSJ Explains
News moves fast, and there’s not always time to untangle the complex forces driving the day’s biggest stories. WSJ Explains breaks down big market moves, business and economic trends, and scientific developments to help you stay ahead of the curve.
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