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Positive & Negative effects on Gentrification
Transcript of Positive & Negative effects on Gentrification
For gentrification, normally higher-income people tend to move into lower-income neighborhoods & communities through the process of buying property. This process changes the dynamic of a community in both negative AND positive effects.
Positive; A boost to the local economy
in low-income areas, as wealthier people move into an area, they bring higher incomes. This gives more money for community and business investment. Over a period of time, more businesses are built. More businesses mean more jobs, which help everyone in the community.
Positive; More tax Revenue
the economic boost doesent only help the private sector. Gentrification increases the tax base of a community. Not only does the population grow but property values are eventually driven which create two benefits from the government.
More homeowners and businesses will pay taxes and the amount of property taxes each pays, will rise as property value increase.
Positive; more tax Revenue
more tax revenue means more investment in community infrastructure, including roads, parks and schools.
Positive; Lower Crime Rate
The process of gentrification leads to more property ownership through existing properties and building of new developments. As a result, thrre are fewer vacant properties which are often a magnet for crime. Increased population and local government revenue from taxes result in more law enforcement being necessary and affordable.
Positive; Preservation of Historic Buildings
In many economically depressed or low-income areas, old buildings are often left to deteriogate because of lack funding. Gentrification brings people to the community with a wide range of interests and skills.
increased property taxes in poor urban neighborhoods.
overcrowded making people uncomfortable or impatient to get ehere they need to be.
In some situations, gentrification kicks out all the poor people and unique businesses and replaces them with wealthy people. May be good for the overall economy but it just shoves the problems over to another street without actually curing them.