Assessed property value in designated smart growth areas increases annually

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Assessed property value in key commercial areas increases annually

As the City grows and redevelops, leaders focus on policies and strategies that encourage efficient land use, support a mix of housing types integrated with activity centers and diverse businesses and increase the safety and efficiency of public utilities, streets, facilities and services. The opportunity for mixed-use smart growth development increases property values over conventional suburban development. By providing an alternative development choice, smart growth areas that more fully integrate uses and activities are important to the redevelopment within Germantown’s designated strategic nodes and districts.

No Information Property Tax Revenue from Key Commercial Areas

Description

Germantown is expected to see increased property tax revenue as growth continues in the City's key commercial areas and specifically those that are Smart Growth areas with a mix of uses.

Analysis

Economic and Community Development staff is working with City Finance staff and Shelby County to determine the specific values of Smart Growth area projects and those that have developed using the Smart Code.

Impact

The City has moderate ability to impact this measure.