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Old 05-13-2009, 09:41 AM
 
Location: Chicago, IL
8,998 posts, read 12,761,482 times
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I've read that local businesses contribute more to the local economy than big-box retailers or chains.
With that said, do malls pay property taxes or any kind of taxes that contribute to the local economy?

In my area, there are a decent amount of independent clothing stores but a lot of times they sell high end clothing, which at this point in my life I can't afford. I tend to do a lot of my shopping at the mall.
When it comes to restaurants, I like to support local businesses instead of big chains. At the same time, I know by frequenting chains I am keeping employed...and they might go out and help stimulate the economy in a local business or go someplace else and buy something...and someone else might shop at a local business.

Do you make an effort to shop at local businesses? Why or why not?
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Old 05-13-2009, 10:05 AM
 
28,383 posts, read 67,919,335 times
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In Illinois the amount of property tax that a large regional mall can pay is quite large. Under our system the VAST majority of that property tax is going to the schools, and that is an odd thing, as the owners and tenants of that mall have very little incentive or ability to see what comes of their "investment". Further 1%(or more) of the sales tax flows BACK to the local municipality, which can be a HUGE amount of cash. That generally gets spent on Police and other "public safety" expenses, which sorta makes sense given how many shoplifting incidents and paramedic calls happen at a large mall.

To your second point, about the value of local business and your support of them, you are really talking a different way of thinking. When "J. Crew" or some other mall tenant has a store they generally have a bunch of minimum wage cashiers and maybe two people that can actually make enough to support themselves / a family as store managers locally, but back in their "home office" they have a big staff of professionals that all make a good living working for the corporation.

I suppose a locally owned store makes it some what easier for their to be a "family" that is directly supported. I also believe the way that smaller businesses buy their display racks, computer systems, shipping et cetera means there are more small business getting a taste of the profit locally. The converse is that ALL this is probably a little LESS efficient and the small business has to charge a bit higher price...

I go back and forth in personal habits. I buy lots of "consumable commodotities" like soap and stuff at Wal~Mart. I buy some speciality items that are very discounted at local shops if I think of it (doesn't cost me any more to buy some stuff locally). I love my local hardware store, but rarely purchase anything very costly there, and often avoid paying their high prices for things that I can get online for much less IF I do not need it a hurry...
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Old 05-13-2009, 02:19 PM
 
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Of course they pay property taxes.
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