Do new apartments cause an increase in property tax for neighbors?
I am posting this housing question in the Georgist sub because I trust y'all to understand the actual economics undergirding this. I have tried to naively google the question but found nothing. I am based in the US and what follows is within a US framework, although insights from the whole world are welcome.
A common complaint I see in discussions around upzoning is that, supposedly, if a new large multifamily home goes up, then the property tax of neighboring lots will increase. (For the sake of this discussion, let's say it's not a multi-use building that brings amenities to the neighborhood - it is literally just some apartments.) Is this an actual phenomenon? If it is real, is it a fundamental dynamic in housing or is it a particular law/code/ordinance that causes it? Finally, is it a bad thing from a Georgist perspective? From my perspective, property taxes should go up as an area becomes desirable, but a basic apartment building going up doesn't make an area more desirable. Typically the causation is the reverse - an apartment building gets built because enough people want to live there that you could rent out all the rooms you build. It's a problem for the YIMBY cause if new apartment buildings do in fact make neighboring property taxes rise without there being a corresponding rise in value/amenities for those neighboring properties.