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23 | P a g e <br />Understanding Little Canada’s Local Economy <br />Land Use and Fiscal Productivity – Takeaways <br />1. R-1 zoning comprises 45.5 percent of buildable land but generates 37.3 percent of total <br />property tax revenue, indicating that land consumption and tax production are not <br />proportionally aligned. <br /> <br />2. Commercial, industrial, and higher-density residential districts generate substantially <br />more tax revenue per acre than lower-density residential districts. C-2 properties average <br />$50,445 per acre and R-3 properties average $33,933 per acre, compared to $14,406 per <br />acre in R-1. <br /> <br />3. Within the R-1 district, tax revenue per acre declines by approximately 65 percent as lot <br />size increases, from $20,766 per acre for lots under 0.25 acres to $7,271 per acre for lots <br />over 0.6 acres. <br /> <br />4. Class 4A (market-rate) apartment properties generate approximately 2.4 times more tax <br />revenue per acre and just over four times more tax revenue per unit than Class 4D <br />(income-restricted) apartment properties. <br /> <br />5. The city’s highest individual tax contributors are concentrated in high-density <br />multifamily, industrial office park, and corridor-based commercial developments, where <br />land is developed at greater intensity and scale.