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The owner is still paying property tax and not taking any income from those buildings...their value would have to be growing aggressively each year for that to
by l33t2328 5y ago
The owner is still paying property tax and not taking any income from those buildings...their value would have to be growing aggressively each year for that to be remotely worth it.
- didibus 5y agoI think two things happen, the first is that yes, the value is in fact growing aggressively each year. The second is that eventually, it will find some tenant that are willing to pay double, by choking everyone to eventually accept that rent is just now more expensive than ever. Once that happens you'll quickly recoup the time where it didn't rent.