Doesn’t development pay for itself through the increase in property tax revenue?
Politifact Florida found through an investigative report that “generally, studies suggest that new large single family developments do not pay for themselves. But infill development (taking an empty lot in an urban area) or redevelopment is much more likely to pay for itself. So are commercial and industrial development projects.” Research suggests that sprawling residential development costs taxpayers $1.40 to $1.50 for every $1.00 of revenue raised by the new tax base. Sustainable growth including infill and redevelopment are more likely to reap a net positive for for the taxpayers because the infrastructure, roads and facilities are already provided to the area.