Posts Tagged ‘property values’
In May 2018, Pima County released an important memo that explains succinctly why Pima County open space properties have a positive impact on the tax base. This was in response to an allegation made by Representative Vince Leach during the state legislative session that Pima County could receive more taxes if open space lands were sold to private development.
Some highlights from the memo include that the “findings [of a 2016 analysis] showed that the impacts to the tax base had almost no measurable impact. For example, the highest percent reduction in the primary tax base due to these acquisitions was eight thousandths of one percent. The analysis also examined the reduction in property tax revenue, the highest of which was
a loss of $20,306 in revenue in 2015, which also equated to six thousandths of one percent of the total County primary property tax revenue that year.”
Furthermore, “This analysis also cited well known ways in which conserving important natural areas benefits the tax base and tax revenues. For instance, any homebuilder can tell you that they charge lot premiums for homes adjacent to natural areas, which are then reflected in the higher taxable values of those properties, and in turn, reflect higher tax revenues from those properties. This also applies to certain commercial properties. For instance, several large resorts in Pima County have chosen to locate next to Tucson Mountain Park, Tortolita Mountain Park, and the Coronado National Forest, and promote the recreational opportunities and stunning views provided by these natural areas. Westin La Paloma Resort and J.W. Marriott Starr Pass Resort are in fact two of Pima County’s top 20 highest property taxpayers. This goes along with the fact that Visit Tucson, our local visitors bureau, continues to find through surveys that one of the top reasons people travel here is our natural environment.”
If this is a topic that interests you, you can find even more arguments and data to support Pima County’s conclusions in the full memo.