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Last Updated on 03/19/2023 by Sophia

Heal [2001, p. 1] notes that when Frederick Law Olmsted, the designer of New York City's Central Park, was asked how the city could pay for the park, “he responded that its presence would raise property values and the extra tax revenues would easily repay the construction costs. History shows that was correct.” This episode illustrates best which of the three views of the nature of the local property tax?