Climate Real Estate Taxes on Risky Developments
“Why may we want to think about establishing a real estate tax on risky developments?”
Climate change is going to affect places everywhere, whether it be sea-level rise in Miami or wildfires in Lebanon. Even with these in place, some developers are still thinking about building new housing in risky zones. Since this can become a public liability with the increased destruction, it could be smart to introduce an additional tax on these developments which could then be used to fund climate adaptation measures. This is why Climate Real Estate Taxes on Risky Developments might be a good plan to implement.