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Actually, the reason is that old people who live in these communities don't want young families or children, and don't want to pay school taxes. In some states
by fatdog789 17y ago
Actually, the reason is that old people who live in these communities don't want young families or children, and don't want to pay school taxes. In some states, retirement villages are exempted from paying local school taxes b/c there aren't any children to support.
Local governments hate retirement villages b/c they are not net contributors to local tax coffers: they use up more police, fire, and medical services, they rarely purchase goods (IOW, no sales tax), and they don't own property (b/c the units are "leased" not owned) so they don't pay property taxes. On top of all that, they usually oppose new development in the vicinity of the retirement village, which can freeze commercial development.
- anamax 17y ago> Local governments hate retirement villages ... they don't own property (b/c the units are "leased" not owned) so they don't pay property taxes. The owners of the retirement villages pay property tax, just like every other owner. The local govts collect said tax whether or not said owners manage to get money from their tenants, so govts don't care either way about lease/rent/owner-occupied.