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Re: LVT & skyscrapers

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  • John David Kromkowski
    Land is land. A building does not increase land size. A building is a building. A building can increase the efficiency of how a site is used, but it does
    Message 1 of 12 , Sep 4, 2012
      Land is land.  A building does not increase land size.   A building is a building. 
       
      A building can increase the efficiency of how a site is used, but it does not change either the land size nor the land value (all things being equal - I say this only because I suppose it is possible that a building could end up being a nuisance to the location (toxic) and hence would need to be torn for the site to be used at all and thus lower the land/location value).
      As to you paying the property tax,  well you do have exclusive use to your pro-rata portion of the land.  Since you don't own the land though, you might have a subrogation case against the true owner of the land to collect reimbursement from him.  (Depending on how good your case is -- local law and whether your contract for lease has any relevant provisions - the freehold owner might just say here take your portion of "land" as a freehold rather than a leasehold.  It is a novel theory, there are obstacles, contact a reputable solicitor/attorney whatever you call them.)
       
      JDK
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