Quote:
Originally Posted by BWChicago
NIMBYs are reducing potential property taxes. That's not lost revenue, it's a smaller increase in potential revenue. Would you fine the zoning board too?
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Not to defend NIMBYism (which I loathe with a passion), but the argument that a denser building will generate more tax revenue for the city is weak because what is the difference in property taxes between a 250 unit apartment building and a 150 unit apartment building?
Keep in mind that the Cook County Tax assessor is the one determining the building's value (and, I'm sure, they are
always very accurate
*). And if they assess it too highly (which never happens, of course), it is the responsibility of the property owner to challenge the assessment. Rinse and repeat in 3 years.
So, in other words, the "increased taxes for the city" argument probably falls on deaf ears for this reason. What you can argue, though, is the increased number of people living in the neighborhood patronizing local businesses, which will improve the local economy. Problem is, most of the NIMBY's are people living in the neighborhood, not businesses, and those NIMBY's complaining really derive little benefit from having to wait in a longer line at their local Subway restaurant, especially given the fact that their neighborhood has already reached enough critical mass to support such businesses.
* I own a 3 flat which the Cook County Tax Assessor for some reason has listed as a 5 unit building