Free market principles really do work

Growing Texas Town Decreases the Property Tax Rate, But What Will Happen to Appraisals?

It appears that the city council in Leander has lowered the property tax rate in order to promote growth in the community. Makes logical sense if you lower the tax rate then your community becomes an attractive target for businesses looking to expand, relocate, etc. Relocation's, expansions, etc. promote add-on businesses like fast food joints, additional retail outlets, etc. and all this works to increase the taxable property base. Don't forget the additional sales tax revenue that goes along with the new establishments selling goods and services.

http://austinvitw.blogspot.com/2008/08/is-hell-freezing-over.html#links

This only works if you have local leadership that understands and embraces the concept and knows how to apply the principles.