Agenda - 01-10-1994 - Laserfiche WebLink

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, ►nAacr+ iss< SL[C PUr'" r r.�► .` vestijlol A PLANNING G ASSOCIATION !!' A special edition of the PAS Merno published quanerly I devoted to puvlic invesnnent and.finance Commercial beyond question and indeed mI ntes most local economic Development and development efforts. A recent stud-, in DaPace Count%, Property Taxes: Illinois. however,cast doubt on this widespread belle:. Not su rsingly, the study has come under ven, strong at,,;: Who Pa��S the Bids`' with critics questioning everything from the motivations of r the researchers to their assumptions, data, methods. and By Wim \'iewel.John McDonald, conclusions. Our review of the stud\,critiques. and some of Ashish Sen. and Charles Orlebeke the data suggests that there is reason to reconsider the prevailing wisdom. But at the same time, the DuPage stud\ Last September. Public ins stment News reported on a study may have left some misleading impressions about the causal hi the Di4Page Cowin. Illinois, development deportment that effect of nonresidential development on property taxes. raised mom important questions about the nature and The analysis by the DuPage County development structure of economies in urbanizing suburbs. That issue of department found that in areas of the county with ;arise PIN' has attracted considerable attention, even outside the growth in nonresidential development, property taxes went planning profession. The following article represents another up more than in areas without such development. In fact, the voice in this continuing discussion, D.B. study stated that "a one percent increase in nonresidential Does the development of nonresidential real estate help the development is likely to result in a tax levy increase that is tax bills of residents? Common wisdom has long been that three times larger than a similar one percent increase in )development of shopping malls and office buildings is very residential development."The study attributes this to two lesirable from the perspective of the residential taxpayer. effects of nonresidential development: nonresidential uses These kinds of developments help pay for local services, bring in additional workers,shoppers. and others,all of while demanding relatively few for themselves.The truth of which create demand for public services; and residents in the this perception has long been considered so obvious as to be now more urbanized environment demand more services and t G K � a_ ti Eli i rrizir:s� _ 1 , Debate continues in DuPage Counry, Illinois, over whether commercial development pot's for itself. Over Ilic las:nti'o decades. areas like Oak Brook(above)hove sprouted dozens of new office buildings, hotels, and shopping centers.