Some big-box stores are claiming that, for local property tax assessment purposes, their buildings should be valued at the fair market value of a vacant store of similar size -- buildings that are notoriously hard to sell. Often, that fair market price is a fraction of the value of the new store's building. The strategy is called the "dark store tax tactic" and it's a terrible deal for cities.
The Community Land Use and Economics Group is a small, specialized, consulting firm that helps community leaders create vibrant downtowns and neighborhood commercial centers. Our work focuses on developing forward-looking economic transformation strategies, with particular emphasis on cultivating locally owned businesses, removing regulatory and financial barriers, creating effective incentives to stimulate new investment, reusing older and historic commercial buildings, and outlining practical implementation plans. Our clients include local and state governments, nonprofit organizations, business improvement districts, developers, and planning firms in the US and abroad.