I have been traveling and have just learned of the planned sale of the property on N.C. 73 to the Carolinas HealthCare System for a mental health facility.
I guess I am puzzled as to why the town would be so happy to convert taxable property into non-taxable property. The half-decision to change the zoning in the first place was unusual, but at least it offered the potential for some sort of tax revenue. Now, we lose the potential tax revenue with no potential revenue for the town. The jobs won’t benefit Davidson as they will not pay any taxes to the town. The property tax revenue is lost forever.
In reading some press releases, it appears as though at least some of the construction will involve doctor’s office buildings. Can these be taxed? They are certainly profit-making enterprises.
–Tom MacDonald, Davidson