This paper develops an optimal timing model which extends our understanding of the effects
which property taxes have on the timing of land development. Comparative static effects of
changes in property tax rates are investigated and policy rules are developed for the use of
differential pre-and post-development tax rates to affect the timing of development. Changes
in the property tax rate are found to be non-neutral with respect to the timing of development
in most cases, accelerating or delaying development depending upon specific market …