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Comparison of Property Tax Revenue Generated by Industrial Versus Residential Uses
Client: John Clare, Ltd.
John Clare, Ltd. retained Gruen Gruen + Associates (GG+A) to estimate the annual property tax revenue at build-out a proposed residential development would generate compared to the property tax revenue an industrial development would generate. The residential use was assumed to consist of 102 for-sale villa type homes on 34.02 acres of land. The industrial use was assumed to consist of a seven building, 260,000-square foot as originally platted but not developed. GG+A estimated the market value and equalized assessed value of each development alternative and the resulting property tax revenue based on the applicable property tax rate.