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Residential vs. non-residential zoning always tries to tilt towards non-residential, because it has a better potential of return. Although both pay property ta
by niftich 8y ago
Residential vs. non-residential zoning always tries to tilt towards non-residential, because it has a better potential of return.
Although both pay property taxes and both require utility services like water, sewer, and waste collection, non-residential properties attract both in-town residents and outsiders from other jurisdictions, who then typically spend some money in your town. Meanwhile, residential attracts new residents, who may or may not take jobs in your town, could be spending money in other towns, but need high-cost social services like public schools and community programs in your town.
- seanp2k2 8y agoOr even worse, they transfer their Prop 13 to a “replacement property”: https://blog.yonathan.org/posts/2017-10-transferring-prop13-assessed-value.html https://blog.yonathan.org/posts/2017-10-transferring-prop13-...
- touristtam 8y agoThat explains why Edinburgh allowed the St james centre to exist right in the city centre instead of keeping the existing housing stock there: https://en.wikipedia.org/wiki/St._James_Centre https://en.wikipedia.org/wiki/St._James_Centre. The whole thing has been pulled down and a mixed development should be take its place in the next few years (alreayd underway).