Here’s a great piece from the LA Times in 2003. Sure, keeping property taxes low can help businesses but the disparity in the market place is staggering!
SACRAMENTO — It’s no wonder Disneyland’s owners call their amusement park the “happiest place on Earth.” For much of its land, Disney pays only a nickel per square foot in property taxes.
In Hollywood, Capitol Records pays a dime per square foot in taxes on the land beneath its famous tower, which resembles a stack of records on a hi-fi. In downtown Los Angeles, owners of the Wells Fargo Center pay about $1.77 a square foot.