Re:High property taxes are good
by Retric on Wednesday July 20, 2022 @08:31PM
(#32174305)
Value possibly, profit not necessarily.
Put another way if building a 5 story building would be obviously more profitable then they would do that but the opportunity costs is now 1+ million per year you aren’t getting from the parking business.
Re:High property taxes are good
by TimPC on Sunday July 24, 2022 @08:16PM
(#32219187)
Not clear. Plenty of people will forgo selling land to a developer who wants to build a five story building in order to wait for the premium that comes from the developer who wants to build a 50 story building.
Put another way if building a 5 story building would be obviously more profitable then they would do that but the opportunity costs is now 1+ million per year you aren’t getting from the parking business.