2 ms·
Figures that I saw estimate that local tax revenue from commercial property averages double that from residential. That's a pretty big incentive for a city to
by btilly 7y ago
Figures that I saw estimate that local tax revenue from commercial property averages double that from residential. That's a pretty big incentive for a city to attract business and not attract residential.
To take the example that you just latched on to, if rezoning the land makes it worth more, and therefore increases local taxes, this becomes an incentive for the city to balance its budget by rezoning. And some of that rezoned land will get dense residential living. Which will reduce traffic congestion. And make everyone's lives better.