Re:Empty storefronts are killing neighbourhoods
by shadowgovt on Saturday July 24, 2021 @09:29AM
(#27940781)
Pay tax to whom? The state?
If the state owns the property, they lose the opportunity cost of taxes paid by a private owner. So, they're heavily incentivized to return it to private ownership as soon as possible... Or to consolidate several such properties into something that is sellable, or to repurpose the property into something people need, like more housing.
If the state owns the property, they lose the opportunity cost of taxes paid by a private owner. So, they're heavily incentivized to return it to private ownership as soon as possible... Or to consolidate several such properties into something that is sellable, or to repurpose the property into something people need, like more housing.