“[But] big box stores such as Walmart and Sam’s Club, when analyzed for county property tax revenue per acre, produce barely more than a single family house; maybe $150 to $200 more a year, [Sarasota Smart Growth Director Peter] Katz said. (Think of all those acres of parking lots.) Among retail properties, the biggest per-acre property tax revenue in his county, almost $22,000 per acre, comes from Southgate Mall, the county’s highest-end commercial property with Macy’s, Dillards and Saks Fifth Avenue department stores. That’s not so surprising.I blogged last year, during the height of the recession, how in Denver housing pricing dropped everywhere expect the transit friendly urban core which was a slight increase in price.
“But here’s the shocker: On a horizontal bar chart Katz showed, you see that zooming to the far right side, outpacing all the retail offerings, even the regional shopping mall, is the revenue from a high-rise mixed-use project in downtown Sarasota. It sits on less than an acre and contributes a hefty $800,000 in tax per acre. (Add in city property taxes and it’s $1.2 million.)”
Mixed-use, smart growth development is good for the environment, good for people's health, and good for city coffers. It a shocking that mixed-use isn't building itself!
No comments:
Post a Comment