Posted by Spook on April 18, 2008 at 17:56:23 from (198.208.159.17):
In Reply to: Re: OT- Walmart Acres posted by garytomaszewski on April 18, 2008 at 17:06:35:
I have been looking at buying a small piece of commercial property, for my wife's business. I tried to buy one piece 2 years ago. I could not get the zoning changed, so I had to drop the idea. 6 months later, a big developer bought the place, for less money, and got the zoning changed immediately. I was talking to a commercial real estate broker about some property, he wanted me to build a building on it, and rent out most of it. If you get the proper tax abatement, you pay 50% of the taxes for the first 12 years. Additionally, if you have the units segregated with seperate addys, the developer pays no taxes on a unit unless it is occupied. For tax purposes, it doesn't exist until you have a tenant. I had always wondered how these developers could put up units, leave them empty for years, and go build more. The system is tilted in favor of developers, not residents.
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