This is a poor example. Your personal stock portfolio has no effect on people in your community.[i]
Does this apply to any other types of investments? Some government geek decides what I might sell my GE stock for? So if the gov needs some more dough (and they always do), do they just kinda goose up my "coulda" sales price?
As to unwise, let's say this only applies to Buffalo real estate. Great!!!!
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Land taxation can have a direct effect on the built environment--something that affects the community in plain sight.