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Is it fair to compare value and tax revenue of the 9 downtown blocks to the mall? Aren’t malls usually built in cheap areas because the land has low value, whil
by kiba 6y ago
Is it fair to compare value and tax revenue of the 9 downtown blocks to the mall? Aren’t malls usually built in cheap areas because the land has low value, while downtown is typically, well, down town.
Well, downtown have something going for it if it's valuable. Land that are of low value aren't exactly prime estate.
Also the mall space is including parking lots and the 9 blocks have parking somewhere but not in those 9 blocks.
Why would that in itself be valuable use of lands? Remember, even the roads are a land use choice.
- prepend 6y agoParking lots are not very valuable. I meant that the mall parcel includes retail space and parking while the 9 blocks is only retail space. So it’s comparing different densities. I was thinking that there is probably some parking lots for the people doing that shopping that should be included when comparing taxes per area. I think it would be an accurate comparison if those 9 blocks were replaced by a mall, but this seems like apples to oranges if the goal is to see which brings in more tax revenue to the community. I suppose sales tax would be really important too.
- quickthrowman 6y ago> Parking lots are not very valuable. ??? It depends entirely on the location of the parking lot. The land value of a downtown parking lot which is the same size as a high-rise building lot next door is going to be similar. Obviously the high-rise is worth more money since there’s a building with leasable space, but the land value of both lots will be very close. A parking lot doesn’t need to remain a parking lot forever, you could borrow money and build a building on it.