> As a town we are essentially a fixed plot of land cultivating a crop of buildings which we tax to fund our corporation

This is a very interesting point of view that I have not seen anywhere else. However it omits side-effects that buildings have on citizens other than taxes, e.g. hospitals improve health, universities improve human capital of citizens, factories create network effects with respect to suppliers and retailers, etc. A healthier and more educated workforce will be more productive and a healthier business network will add more value generating more sales taxes and increasing property value.