For business owners, many benefits exist to owning a home near your principal business location. In addition to all the standard benefits of home ownership, business owners can help offset commercial and industrial tax levies by strengthening the residential tax base of a municipality.
When a home is sold it generally carries positive economic value (improvements are generally made by new owners, the supply of homes is decreased). Home ownership has a compounding positive economic effect on a community by improving schools, improving community safety, and providing an additional support base for community services (fire, public safety, etc.). As residential values increase, the share of tax levy burden is shifted away from commercial and industrial to the residential base.
Add in shorter commuting and now not only do you reduce the fuel and maintenance expenses for your vehicle, but you lower your carbon footprint and thus improve the environmental quality of the general area. Expand upon this for your employees by providing incentives to live near your workplace, and now you provide additional strength to the residential base.
SWBC Mortgage – Furlong Team can show you ways in which we can partner to offer home ownership solutions for you and your employees to create a win-win for your business, your municipality, and our region.