Quote:
Originally Posted by powderjunkie
As for tax revenue, in the year the unsightly structures get erected the total property value in the city will only jump from $430B to $$449.9B instead of $450B as it would without the unsightly structures causing an [alleged] $100M loss. So the mill rate would adjust ever so slightly. But a few years later when it's up and running we'd see some incremental bumps from nearby properties that would eventually offset that loss.
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The tax situation goes beyond that. There are many reasons that people and businesses locate to a city, and the infrastructure and general attractiveness are part of it. If you take a desirable part of a city and make it undesirable, you lose out on part of your ability to draw in outside investment, which drives up the overall tax base.