Dense Development Generates More Property Taxes Than Big Box Stores in Chicago
Steven Vance looked at a couple of different developments to see if dense developments did indeed generate more property taxes than big box stores. He looked at the Logan Theater and its neighboring stores and compared them to the same neighborhood's Target store and parking lot in Chicago's Logan Square Neighborhood. Vance found while the Target store paid $1.88 per square foot, the theater development paid $3.01.
"The denser buildings in this analysis generate significantly more taxes for the county, city, parks, schools, and other services than the 'sprawly' buildings," Vance writes in Chicago Cityscape.