Racetrack Coming..Do Land Values go up??

[dubba]

I live 3 miles from NHIS of Winston Cup fame..

When the track came in our taxes went down by 2/3. Maybe not a big deal in your area, but up here property taxes run 3-10k per year.

Our town won't let any business's come in so we haven't realized any benefit there /forums/images/graemlins/mad.gif

I think activity level depends on the track. There is something noisy going around that track all season. Weeknights tend to be quieter cars than weekends. Weekends usually bring out the helicopters, are you on the fight path to the nearest airport? I am. I'm known by the helicopter pilots as the "redneck moon", I think you can figure out why /forums/images/graemlins/smirk.gif

 

[KubotaSteve]

Not too far where I live from they had a speedway (Summit Point Raceway) that is home to the road course type racing. Property values really didn't go up that much versus the noise it created. Paul Neuman and Tom Cruise used to frequent (before TOM went crazy /forums/images/graemlins/grin.gif) that place as did other celebrities racing there. They race the Mazda Miata's, BMW's and other cars that can actually be driven on the road. They also offer driver training courses ranging from basic defensive driving to courses for secret service. They do quite a bit of training for the feds there which keeps it going during the weekdays. As far as property values, it is not the place to have in the county.

 

[Unclebuck257]

Thanks for all the info and replies. I posted this yesterday morning and then had an emergency situation that I needed to attend to, so I couldn't get back on here until this morning.

RedRocker,

I live about 11 miles northeast of Decatur, on Hwy 51, ( going towards Gainsville) and then 2 miles north on a County Road. This track will be near the FM 455 and Hwy 51 intersection.

jinman,

Yeah Jim, I've already thought of that eminant domain thing, but it appears that with 441 acres, they'll have the property they need for track parking etc. The only other thing to worry about will be infastructure changes where eminant domain may come into play. I'm pretty sure they'll have to widen the county road, and possibly pave it too.

I appreciate all the comments from you folks on land values in general too. Truthfully, I love my place and had planned on retiring here. Heck, I'm almost retired now! With this track now coming, that may very well change as the wife and I love the quiet and peace out here, and as someone said, there'll be various types of races every weekend. I'd rather look at that glass as being half full rather than half empty, so I was thinking if land values went up, we could sell out, make some good money, and go somewhere else for our peace and quiet with money in the bank. I guess you could call that making lemonaide out of lemons!! The racetrack is coming, no matter what.

That now appears up in that air too from what some of you have told me in your posts. It's all going to depend on what type of racing etc., that we'll be dealing with at this track.

Thank you again for all the good info in your replies!

 

[rvaitor]

I would find it highly unlikely that there would be a F1 sanctioned event there. Indy has one because that faciliy draws so many people.

I've heard there may be another venue but there are lots of other potential sites. Vegas seems to be getting the most lip service of late.

Good luck anyway.