We Need Infrastructure!

But watch out for Special Assessments.

Don't underestimate how the condition of a neighborhood around your property  could impact value. If improvements are expected, property owners should benefit, but will pay a share of the bill. Make sure you take measure of both. My examples come from Michigan, but the concept has broader application.

1. In Livingston County, a majority of property owners of 291 lots on Lake Shannon supported a ten-year special assessment, and received federal government support for a $1.3 million bond -- or about $4,500 per lot -- to contribute to the cost of neighborhood road upgrades that were made in 2018. The ability to spread this cost over hundreds of lots kept per-owner cost down, and this is a likely win-win example when both the community and the property owners are better off.
2. Traverse City has been touting the benefits to be realized from a substantial renovation of its downtown Eighth Street corridor currently underway. To maintain majority support of the property owners, who will pay a special assessment of $22.50 per lot front foot paid over ten years as their contribution to the improvements, planners scaled back street lighting plans. Along this mixed-use street, the commercial property owners can anticipate improved traffic that is likely to pay for the assessment; the residential owners may not see an equivalent value increase. 
3. Along the western edge of Interlochen's Green Lake, 75 percent of homeowners (18 of 24 owners) agreed to a special assessment for a shared septic system, according to Dec. 10, 2018 Board of Trustees Meeting Minutes. Tax records for 2019 show that the $27,000+ assessment will be paid over fifteen years. It is likely that the eight opponents to the project are not getting a benefit equal to their cost.

The late Senator Russell Long famously quoted: "Don't tax you, don't tax me -- Tax the fellow behind that tree!" Every worthy public works project needs revenue to cover its cost; keep track of your share.

Picture source:  Federal Highway Administration