Henry George is Kaput
There was this quote reported direct from Judge Wettick:
Separate land values were "really confusing people" and many appeared to "make no sense," Judge Wettick told Mr. Graham.Suffice it to say that if the judge at this point does not pay much heed to the land values, I am pretty sure the other 99.9% of the county thinks less about it. No memory at all in the region that the city of Pittsburgh was once the largest implementation of Henry George's Land Tax concept in the United States. There was once a time when some thought the Henry George Club ran Pittsburgh. All just history.
Well, others still do care though. It turns out the folks at the Lincoln Insitute have a metro by metro index of how real estate values break down between land and structure value. At the risk of further confusing everyone, the methodologies are probably differnt enough that you should not compare directly to the values you are looking at in your Allegheny County assessment value. Still worth looking at and their most recent data looks like this:
Too big a topic for the day to get into what Pittsburgh's ranking there means. But even post bubble... lots of place in other regions.
Location, location location. Reminds me a bit of the great Pittsburgh Hipster quote that Toland snagged out there.