Studies comparing tax revenues from a per-acre perspective show significant gains for municipalities with dense, mixed-use development.
Philip Langdon at New Urban News writes:
"(E)ven a top-of-the-line mall pales in comparison to the per-acre revenue obtainable from dense urban development. A 17-story mixed-use building occupying .75 acres on Main Street downtown [Sarasota] generates $1.01 million annually in city and county taxes, according to [Peter] Katz. That building, completed in May 2007, which has retail in its base, several floors of offices, and then condominiums in the upper levels, produces $1.2 million per acre in county property taxes alone. 'It would take about 145 acres of Walmarts - or five of them, to be precise - to equal the contribution of that one downtown building,' says Katz."
Thanks to Renee Brutvan
FULL STORY: Best bet for tax revenue: mixed-use downtown development
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