Comment 39044

By Anders (registered) | Posted March 23, 2010 at 15:27:51

The danger if you take away the tax break is developers will just tear these buildings down to avoid paying the taxes altogether. This article from the UK suggests this is what happened there under similar circumstances.

"Empty buildings, many of which are nearing the end of their useful life, are being torn down early rather than offered to the market on short leases...

The City of London's planning and transportation committee has already taken informal legal advice over what it can do to stop developers demolishing empty buildings and leaving rubble-strewn sites for months or years while they wait for the market to improve. Equally, there is the possibility that those developments already under construction could be stopped before they are completed, the point at which they become liable for business rates."

Comment edited by administrator Ryan on 2010-03-23 14:55:33

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