The State of the Dark Store Theory

The State of the Dark Store Theory

Carolina County is selling Parcel A at a tax foreclosure sale.  The county enters an opening bid of $4,500, the total taxes and costs owed on the property.  Happily for the county, two other bidders, Billy Blue Devil and Wanda Wolfpack, get into a heated competition for the property.  Billy Blue Devil is the eventual high bidder at $25,000.

Carolina County is selling Parcel A at a tax foreclosure sale.  The county enters an opening bid of $4,500, the total taxes and costs owed on the property.  Happily for the county, two other bidders, Billy Blue Devil and Wanda Wolfpack, get into a heated competition for the property.  Billy Blue Devil is the eventual high bidder at $25,000.

[This post is co-authored with my colleague, Margaret Henderson]

[This post is co-authored with my colleague, Margaret Henderson]

The downtown buildings in the Town of Old Well have “good bones.” The structures lining the four downtown blocks of Main Street are solid brick and reflect their historic character, harkening back to a time when downtown was thriving with retail on the ground floor and residential units on the second floor. The very center of downtown is in fairly good shape, and some committed merchants have established a pocket of commercial activity there. However, even that central area is pocked with a handful of underutilized and neglected retail buildings.

The downtown buildings in the Town of Old Well have “good bones.” The structures lining the four downtown blocks of Main Street are solid brick and reflect their historic character, harkening back to a time when downtown was thriving with retail on the ground floor and residential units on the second floor. The very center of downtown is in fairly good shape, and some committed merchants have established a pocket of commercial activity there. However, even that central area is pocked with a handful of underutilized and neglected retail buildings.

Loyal readers of this blog know that most property tax exemptions and exclusions require that property be used for exempt purposes to avoid being taxed.  The fact that a qualified owner (school, religious organization, charitable non-profit, etc.) owns a building does not automatically make that building exempt.  That building must be used for the owner’s exempt purpose (education, religious worship, charitable endeavors, etc.) to be exempt from property taxes.

Loyal readers of this blog know that most property tax exemptions and exclusions require that property be used for exempt purposes to avoid being taxed.  The fact that a qualified owner (school, religious organization, charitable non-profit, etc.) owns a building does not automatically make that building exempt.  That building must be used for the owner’s exempt purpose (education, religious worship, charitable endeavors, etc.) to be exempt from property taxes.