I'm pretty close to a geolibertarian, given that it's otherwise hard to allocate uncreated value, but this method of valuation seems really arbitrary. If some outside developer wants to buy a piece of land that the owner would rather not sell for the community-derived price, and both are stubborn, and eventually it's sold for 10x the Somers system price, then the value of that land is (evidently) far above the community consensus. There has to be some way of getting this updated value besides everyone who lives in the area this month spending more weekend afternoons arguing about it.
> That strip is the most valuable piece of real estate in the whole city, a fact anyone who’s lived there for any amount of time knows intuitively. Take a moment and imagine yourself attending such a meeting in your own town, what would your answer to [what the most valuable stretch of street frontage in this city is] be?
I am astonished that the author thinks this is intuitively obvious.
Anyway, some kind of "registering a value for property is the same as putting in an offer to buy/sell that property" is needed to avoid subjective and perceptively unfair valuations.
> That strip is the most valuable piece of real estate in the whole city, a fact anyone who’s lived there for any amount of time knows intuitively. Take a moment and imagine yourself attending such a meeting in your own town, what would your answer to [what the most valuable stretch of street frontage in this city is] be?
I am astonished that the author thinks this is intuitively obvious.
Anyway, some kind of "registering a value for property is the same as putting in an offer to buy/sell that property" is needed to avoid subjective and perceptively unfair valuations.