Downtown Mixed Use Generates More Than 30 Times The Tax Revenue of Malls
Sarasota County, Florida finds that one mixed use building generates 36 times the property taxes per acre as the region's largest high end mall. Mary Newsom reports that "evidence is piling up to show the benefits of compact, in-town development."
"From a fiscal standpoint, this really puts hair on your chest," said Sarasota County Director of Smart Growth Peter Katz. His team analyzed other revenue data, and worked out the payback times for big infrastructure costs involved with new developments. "The payback time for a mixed-use condominium building in the heart of downtown was three years," compared with 42 for a multi use project at a highway interchange.
Published on Sunday, July 11, 2010 in
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