In many cities, high-rises office towers pay multi million dollar tax bills. It's nearly free revenue that doesn't really cost the city any more effort to serve

In many cities, high-rises office towers pay multi million dollar tax bills. It's nearly free revenue that doesn't really cost the city any more effort to serve. Taxing office space is the only mechanism cities typically have to tax the business community to help pay for the services is it provides to its residents. That revenue evaporates, and will have to be balanced by increased residential assessment or fed/state government bailout.