Daily Archives: September 5, 2008

Interested in Arizona’s arts initiatives?

As the state’s art agency, the Arizona Commission on the Arts is committed to being the best steward of our natural resources as possible.  When you sign up to receive ACA’s online services, you will be able to customize the types of publications, information, and news you would like to receive from ACA, such as:

  • The Arizona Commission on the Arts Bulletin (quarterly newsletter)
  • Arts Learning Newsletter
  • Teaching Artist Newsletter
  • Individual Artist Newsletter and alerts
  • Arts advocacy alerts
  • Information about local and national arts opportunities
  • Information about ACA events, workshops, and grants
  • Information about opportunities to serve as a panelist for ACA grants and programs

Idea of the Day: Dealing with empty lots

15th Ave. & McDowell Rd., Phoenix, AZ

From time to time, we’ll throw out an “Idea of the Day” culled from sources here in Arizona and elsewhere.  The following idea comes from a recent article in New London, Connecticut’s daily newspaper, The Day, about their city’s attempt to deal with vacant, dormat lots in their downtown, a problem experienced in many cities across the U.S., including Phoenix:

“Frank McLaughlin, a downtown developer, and Penny Parsekian, the New London Main Street CEO, said some people have started talking about reverse taxation: levying a higher tax on a property that is vacant.  ‘What happens is, that vacancy devalues the property around it, and so there should be a fee for that,’ Parsekian said.  ‘It’s been that way in Germany forever — you get taxed on the land instead of the property.  And vacant land gets taxed at a higher rate.'”

Arizona houses worth 9.2% less than year earlier

[Source: Howard Fischer, Capitol Media Services] — Home values in Arizona continue to plummet at faster and faster rates.  New figures from the Office of Federal Housing Oversight show the average value of Arizona homes dropped 4.4% in just three months ending June 30.  That compares with a 2.8% drop in the prior three months, a 1.2% drop the quarter before that and a decline of less than 1% a year ago.

Overall, home values in Arizona are now 9.2% lower than a year earlier.  That means a home worth $200,000 on June 30 last year now is worth less than $181,700.  That 9.2 percent drop compares with a nationwide decline of just 1.7%.  Only California, Nevada, and Florida had sharper year-over-year declines…  Home values in Maricopa and Pinal counties slid almost 5.2% between the first and second quarters of the year, compared with less than 3.3% between the last quarter of 2007 and the first quarter of this year.  And OFHEO calculates the value of homes tracked is down more than 11%.  [Note: To read the full article, click here.]