Oh, I agree, and I should have been clearer: this is why the tax rates should have gone up in general, not just property taxes on SFHs.

Of course, what we actually did--at least in Ontario--was eliminate the fees developers pay. Sounds great, right? It would mean markets would make low-density housing unprofitable, right? Nope, because it didn't come with any incentive to build higher-density housing at all, just a stick to beat municipalities with in hopes that they'd cut other services to make up the budget shortfall required to service these lands.

Again, this is a market failure, and we're continuing to look for market solutions for it.