urban3 - huntington

How We Value the City

Joseph Minicozzi, AICP

Mapping the Dollars and $ense of Land Use Patterns

This is a Test

Cognitive Test by Tal Ben-Shahar

Things Change…

Things Change…The 3 T’s - Trains, Tourism, & Tuberculosis

During the 1920’s

• Asheville grew by 20% population/year • Second largest city in NC,

(larger than Charlotte!)

• Achieved the highest debt per capita in the entire United States !!!

• City thought it had $5M in bank, but when the audit on the bank happened, it was discovered to only be $18,000

• 3 days after the elected officials were indicted, the Mayor committed suicide

Thomas Wolfe Author (1900-1938)

You Can’t Go Home Again

Thomas Wolfe Author (1900-1938)

You Can’t Go Home Again

They’ve mortgaged those of a generation to come. They have ruined a city, and in doing so, have ruined themselves, their children, and their children’s children.

Asheville has squandered fabulous sums. They’ve flung away the earnings of a lifetime.

The Decline Began in the 50’s & 60’s

Development outside of downtown was encouraged by the new expressways.

Asheville’s Expressway

Development outside of downtown was

encouraged by the new expressways.

The 73

acre Asheville

In the 70’s and 80’s our downtown died

In the 70’s and 80’s our downtown died.

Asheville’s de facto motto was:

“That will never work here - don’t even try.”

Mayor Lou Bissette

Community Leaders With An Urban Vision Doug Bean, City Manager

Robin Daniel

Barbra FieldRick Ramsey

Bob Carr

KenMichalove

Wilma Bratton

Norma Price

Russ Martin

James Geter

Dr. John Grant

Leslie Anderson

1928 - 11/19/1994

1st Market Rate Housing in 50 Years Pack Place Museum

AB Vision Project

Downtown Streetscape Plan

Urban Design Vision Plan

Roger McGuireCommunity Leaders With An Urban Vision

1941 - 11/19/2001

the Alternative Reading Room

Public Interest Projects

’s & Za

asThe Orange Peel

The Public Service Building

ice 51 Biltmore

Downtown benches

City Seeds

Among cities with no particular recreational appeal, those that have preserved their past continue to enjoy tourism. Those that haven’t receive almost no tourism at all. Tourism simply doesn’t go to a city that has lost its soul.

Arthur Frommer

Top Travel Destinations of 2007Asheville: #5 of the top 12

In God we trust; everyone else, bring data.Mayor Michael Bloomberg

Asheville CBD Taxable Value

Asheville’s de facto motto was:

“That will never work here - don’t even try.”

Asheville CBD Taxable Value

Incorporate (inˈkôrpəˌrāt) VERBConstitute (a company, city, or other organization) as a legal corporation. Source: Oxford Dictionary

What is a City? Photo: James Harrison

What is a City?

Asheville is 4x >

Land Production

Old Penneys

For 40 years this building remained

vacant…… its tax value in 1991 was just over

$300,000

Today the building is valued

at over $11,000,000

an increase of

over 3500%

in 15 years The lot is less than 1/5 acre

0.13 Acres 1 unit (2 people + 2 dogs) $232,000 Tax Value

0.19 Acres 54,000 sf. Bld $11,000,000 Tax Value

34.0 Acres 220,000 sf Building $20,000,000 Tax Value

WalmartDowntown My House

Property Taxes/Acre

$19,542

Property Taxes/Acre

$6,500Property Taxes/Acre

$19,542

Property Taxes/Acre

$19,542

Property Taxes/Acre

$19,542

WheatCannabis Soybeans

Total Property Taxes/Acre$6,500

DowntownProperty + Retail Sales Taxes

to the City$3,300

Retail Sales (average)

$77,000,000

Total Property Taxes/Acre$634,000to the City$330,000

to the City$3,300

$77,000,000

$0.0775 Sales Taxof which…

27% returned to City

to the City$3,300

$77,000,000

$47,500 Sales TaxCity return

Total Taxes/Acre to the City

$50,800Property Taxes/Acre to the City

$330,000

Asheville Walmart

Total Taxes/Acre to the City

$50,800Total Taxes/Acre to the City

$414,000

Asheville Walmart

DowntownJobs per Acre

200 jobs on 34.0 acres

5.914 jobs on 0.19 Acres

Asheville Walmart

73.75.9 Jobs per Acre:

$ 83,600$ 47,500City Retail Taxes/Acre:

Land Consumed (Acres): 00.234.0$634,000$ 6,500Total Property Taxes/Acre:

90.00.0 Residents per Acre:

DowntownAsheville Walmart

$1,350

$1,800

Undeveloped Biltmore Estate County Residential City Residential

$1,716

$1,236

$135$30

Residential

Buncombe County Property Tax Revenue Profile: 2007 Tax Yield per Acre

$2,000

$4,000

$6,000

$8,000

Undeveloped Biltmore Estate County Residential City Residential City - Commercial Asheville Mall

$7,995

$2,406

$1,716

$1,236

$135$30

ResidentialCommercial

$75,000

$150,000

$225,000

Undeveloped

Biltmore Estate

County Residential

City Residential

City - Commercial

Asheville Mall

CBD 1-2 Story Office

CBD 2-4 Story Apts.

CBD Mixed-Use 3-4 Stories

CBD Mixed-Use 6+ Stories

$250,125

$44,887

$18,109$7,059$7,995$2,406$1,716$1,236$135$30

ResidentialCommercialCentral Business District

Scary Math

How do you compare cars?

Toyota Prius 571 miles per tank

Bugatti Veyron SS 390 miles per tankRolls-Royce Phantom Drophead

380 miles per tank

Ford F150 Lariat LTD 648 miles per tank

1955 BMW Isetta 245 miles per tank

Toyota Prius 571 miles per tank

Bugatti Veyron SS 390 miles per tankRolls-Royce Phantom Drophead

380 miles per tank

Ford F150 Lariat LTD 648 miles per tank

1955 BMW Isetta 245 miles per tank

How do you compare cars?1 2

Toyota Prius 51/48 mpg

Bugatti Veyron SS 8/14 mpgRolls-Royce Phantom Drophead

11/18 mpg

Ford F150 Lariat LTD 13/18 mpg

1955 BMW Isetta 50/70 mpg

Toyota Prius 51/48 mpg

Bugatti Veyron SS 8/14 mpgRolls-Royce Phantom Drophead

11/18 mpg

Ford F150 Lariat LTD 13/18 mpg

1955 BMW Isetta 50/70 mpg

Grand Junction, CO

Glenwood Springs, CO

Rifle, CO

Asheville, NC

Dunn, NC

Sarasota, FL

Sheridan, WYBillings, MT

Bozeman, MT

Driggs, ID

Completed Study

Cheyenne, WY

Petaluma

Laramie, WY

Columbia, SC

Modesto, CA

Casper, WY

Ft. Collins, CO

Merced, CATurlock, CA

Rockland, ME

Chattanooga, TN

Missoula, MT

Great Falls, MT

Wilmington, NC

Clovis, CA

Visalia, CAFresno, CA

Nashville, TN

Helena, MT

Winston-Salem, NCGreensboro, NC

Gwinnett, GA

Mountain View, CA

Philadelphia, PA

Syracuse, NY

Charlotte, NC

Guelph, ON

Austin, TX

Chapel Hill, NCHigh Point, NC

Buffalo, NY

Lafayette, LA

West Palm Beach, FL

Des Moines, IA

Niagara Falls, NY

Durango, CO

$274.00

$95.00

$47.80

$9.30$6.70$5.50$1.00

ResidentialCommercial

Mixed-Use

County S-F City S-F Walmart Mall or stripMixed-Use (2 Story)

Mixed-Use (3 Story)

Mixed-Use (6 Story)

Ratio Difference of 42 City Sample Set, in 16 States (+ a Province)

3UrbanJoseph Minicozzi, AICPCounty Property Taxes/Acre

... the relentless rules of humble

arithmetic.Justice Louis Brandeis

“Other People’s Money”, 1914

Geology

“Money is your measure.”Ian McHarg Design With Nature

Geology

Streets - Infrastructure

Geology

Buildings

Geology

Buildings

Geology

Buildings

Hydrology

Geology

Buildings

Hydrology

Geology

Buildings

Hydrology

Geology

Buildings

Hydrology

Geology

Buildings

Hydrology

Geology

Buildings

Hydrology

Geology

Buildings

Hydrology

Geology

Buildings

Tax Productivity

What are the numbers for Buncombe County?

Total Taxable Value Buncombe County, NC

Biltmore Estate

Taxable Value per Acre Buncombe County, NC

Biltmore Estate

Taxable Value per Acre Buncombe County, NC

Biltmore Estate

Biltmore Park

Black Mountain

What are the numbers for Cabell-Wayne County?

Total Taxable Value Cabell-Wayne, WV

Strip Mine

Cartography: Brad Nunley

Taxable Value per Acre Cabell-Wayne, WV

Strip Mine

Need arrow

Need Key

Cartography: Bre Shell

Need arrow

Need Key

Total Taxable Value Huntington, WV

Taxable Value Per Acre Huntington, WV

Biltmore Estate

St. James Building

Taxable vs. Exempt Cabell-Wayne County, WV

ExemptTaxable

Taxable vs. Exempt Huntington, WV

ExemptTaxable

Taxable vs. Exempt Downtown Huntington, WV

ExemptTaxable

HuntingtonCabell

Comparative Impact Huntington within Cabell

County Area

County Property Value

Comparative Impact Downtown within Huntington

HuntingtonDowntown

City Area

City Property Value

Comparative Impact Downtown within Cabell

DowntownCabell

County Area

County Property Value

RETAIL SALES

Property

SalesIncomeOther

Local Revenue Sources by StateSource: Tax Policy Center 2014

3Urban

Municipal Service Fee per Acre Huntington, WV (by block group)

alDowntown

Employment per Acre Huntington, WV (by block group)

Downtown

Business and Occupation tax per Acre Huntington, WV (by block group)

Downtown

Property Tax per Acre Huntington, WV (by block group)

Downtown

Total Municipal Revenue per Acre Huntington, WV (by block group)

Downtown

Walmart (on 60)$435,109 per acre

Cabell Co., WV Total Value Per Acre

Walmart (by Mall)$568,980 per acre

Best Buy + Michaels’$963,737 per acre

Huntington Mall$199,939 per acre

Big Lots + $290,900 per acre

Kmart$409,178 per acre

1340 4th Ave $845,850 per acre

801 3rd Ave.$1,952,086 per acre

Huntington T&S$6,157,671 per acre

801 3rd Ave.$1,952,086 per acre

Near Campus Mixed-use$1,648,815 per acre

Huntington T&S$6,157,671 per acre

West Virginia$10,633,785 per acre1340 4th Ave

$845,850 per acre801 3rd Ave.$1,952,086 per acre

Near Campus Mixed-use$1,648,815 per acre

A Lasting Value

Value Per Acre$2,522,070

Frederick Hotel

Built: 1906 ($400,000)

Value Per Acre$22,770,702

St. James

Built: 1914

$1,667

$2,500

$3,333

$4,167

$5,000

Residential Commercial Mixed-Use

*Average values per Cabell County Assessor File

Cabell County Profile: 2015 County Property Tax Yield per Acre

29 $1,4

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000

tral C

t Virg

$173 $1

20 $4,3

00 $8,4

$20,000

$40,000

$60,000

$80,000

$100,000

$120,000

tral C

t Virg

Cabell County, WV Determining Lasting Value

6.7 acres of The 801 3rd Aves. would equal the 30 acre Walmart on route 60.

801 3rd Ave.$1,952,086 per acre

Walmart (on 60)$435,109 per acre

2 acres of The Huntington T&B would equal the 22 acre Walmart

by the mall.Huntington T&S$6,157,671 per acre

Huntington Mall$199,939 per acre

11.5 acres of Pullman Square (with parking) would equal the

117 acre Huntington MallPullman Square$2,032,841 Value per Acre

Apples to Apples Comparing land use types

What is the cash flow?

Lafayette, LA

“It's déjà vu all over again” - Yogi Berra

Lafayette, LA

Hard Costs ★ Land Cost ★ Buildings ★ Road & Sidewalks ★ Sewer ★ Water ★ Buildings

Soft Costs ★Permitting ★Architect ★Engineering ★Legal Fees ★Marketing ★Profit

Developer Costs

Photo: Christoph Gielen

Hard Costs ★ Land Cost ★ Buildings ★ Road & Sidewalks ★ Sewer ★ Water ★ Buildings

Hard Costs ★Roads to here ★Public buildings ★Parks ★Sewer ★Water

Service Cost ★Police ★Fire ★Government ★Schools ★Economic

Soft Costs ★Permitting ★Architect ★Engineering ★Legal Fees ★Marketing ★Profit

Developer Costs

Municipal Costs

Photo: Christoph Gielen

Property Taxes Per Acre Lafayette Parish, LA

Vermillio

Johnston

Expense and Revenue Ratio Lafayette Parish, LA

Downtown

Revenues

Expenses

Expense and Revenue Ratio Lafayette Parish, LA

Downtown

Net Positive

Net Negative

Operating Expense Ratio Lafayette Parish, LA

Downtown

River RanchMall

Operating Expense Ratio (Total) Lafayette Parish, LA

Downtown

Lafayette Cash Flow Model

Downtown

Vermillion River

Lafayette Cash Flow Model

Vermillion River

Downtown

Lafayette Cash Flow Model MPO 2040 Population Model Projections

1949Feet of pipe/person Fire Hydrants/1,000 people

33,500

PopulationSource: Sanborn Maps and LCG Records

533,500

2.4533,500

1949Feet of pipe/person

Fire Hydrants/1,000 people

2.4533,500

121,000

33,500

50121,000

33,500

50121,000

33,500

50121,000

33,500

50121,000

33,500

3.5x 10x

50121,000

33,500

3.5x 10x 21.4x

Your Median Household income

Source: US Census Bureau and Stanfrod University adjusted to 2015 net present value.

1950 $31,400

Feet of pipe/person

Population

1950 $31,400

Feet of pipe/person

Population

$27,700

1950 $31,400

Feet of pipe/person

Population

$27,700

1950 $31,400

Feet of pipe/person

Population

19502015

$27,700

1950 $31,400

Feet of pipe/person

Population

19502015

$45,000

$27,700

1950 $31,400

Feet of pipe/person

Population

19502015

$45,000

The Problem

Apollo XIII Mission Control

The Problem

Median Value = $150,000

The Problem

Median Value = $150,000 x 1% for City Property Tax

The Problem

Median Value = $150,000 x 1% for City Property Tax = $1,500 taxes/yr.

The Problem

Median Value = $150,000 x 1% for City Property Tax = $1,500 taxes/yr.

The Problem

+$150 to roads

= $1,500 taxes/yr.

The Problem

+$150 to roads

= $1,500 taxes/yr.

The Problem

- $3,300 cost/yr.

+$150 to roads

= $1,500 taxes/yr.

The Problem

- $3,300 cost/yr.

+$150 to roads

= $1,500 taxes/yr.

The Problem

- $3,300 cost/yr.

+$150 to roads

- $4,000 cost/yr.

= $1,500 taxes/yr.

The Problem

- $3,300 cost/yr.

+$150 to roads

- $4,000 cost/yr.

= $1,500 taxes/yr.

- $7,150 cost/house

>Greenway

Art Teacher

Dancing Traffic Cop

Behavioral Economics

Dell Avenue

Map: Neil Thomas Resource Data, Inc.

Analyst: Derek Sanders

TaxCode

Land Value Per Acre Cabell County, WV

MARKET FORCES

Houses from the Middle Ages corbelled wood-sides to avoid paying a tax based on the ground level surface.

People added on more space by stacking up larger and larger floors. Some houses that faced each other would nearly touch each other, which increased the risk of fires spreading!

King Francois I banned this type of architecture (1515-1547).

Photo: Alija

Honfleur, NormandyCorbellment

The Window Tax 1696-1851, by King William III

Window tax consisted of:

1. a flat-rate house tax per house and,

2. a variable tax for # windows > 10

3. Between 10 and 20 = 4 shillings, and

4. Those > 20 = 8 shillings.

At the time, only the number of floors below the “roof”, were considered part of the building.

François Mansart, architect (1598–1666)

His treatment of high roof stories gave rise to the term “Mansard roof"

Photo: Alija

Public Policy

Source (2013): forbes.com

Huntington$1.1B Taxable Value

Steelers$1.1B

Penguins$288M

Asheville$12.8B Taxable Value

> Pirates$479M

Steelers$1.1B

=Asheville$12.8B Taxable Value

Steelers$1.1B (11.6)

Ben Roethlisberger

If you can’t measure it, you can’t

manage it.Mayor Michael Bloomberg

DO THE MATH

urban3 - huntington

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