Would property taxes which tax just land but not improvements (buildings) encourage development, or does it not matter? Why? Pick the correct answer.

	a.	No. Land taxes create an incentive to invest in improvements to land because any tax increases are capitalized into the land price and reduce the cost to new buyers.
	b.	Yes. Land taxes create an incentive to develop because the parcel owner's returns to each additional dollar spent on improvements are not subject to the tax. The more intensely a parcel is developed the lower the average tax rate becomes on that parcel.
	c.	No. Taxes on land create a disincentive to buy land because the taxes will become higher and buyers will look for jurisdictions without the tax.
	d.	Yes. The land tax increases the progressivity of the tax system because land owners are likely to have higher incomes than people who do not own land.