Shopping malls are an increasingly popular destination for retail shoppers in the United States. They offer a wide variety of goods and services, from fashion retailers to specialty stores and restaurants.
As their popularity has grown, so too has the taxation of their services and goods. Shopping mall owners can be subject to significant taxes from both the state and local levels, depending on the type and amount of goods that are sold at their establishments.
This article will provide an overview of the taxation of shopping malls in the United States, as well as provide some tips for mall owners on how to reduce their overall tax burden. We discuss the Top 10 Best Popular Shopping malls in Taxes.
1. The Galleria – Houston, TX
The Galleria is Houston’s premier shopping destination, located just west of Downtown Houston.
With more than 375 shops and restaurants spanning 2.4 million square feet, the Galleria has something for everyone, including high-end stores like Neiman Marcus, Saks Fifth Avenue, and Nordstrom, local favorites like Texas Sweet Peach, specialty shops like Express and Apple, and casual dining spots like Cheesecake Factory and P.F. Chang’s.
The Galleria also offers plenty of entertainment options, like a full ice rink, a three-story indoor/outdoor central fountain, and a movie theater. Whether you’re looking for a luxurious shopping experience or just a fun afternoon out, the Galleria is your one-stop destination for all your shopping needs.
2. North Park Center – Dallas, TX
NorthPark Center is a shopping mall located in Dallas, Texas. It is anchored by Neiman Marcus, Macy’s, and Dillard’s. NorthPark Center offers an upscale shopping experience with more than 235 stores and restaurants.
The mall features a variety of specialty retailers, department stores, and restaurants. In addition, it is home to the Carousel Court restaurant and entertainment complex, IMAX theater, and art galleries.
There are also numerous events and activities taking place throughout the year. NorthPark Center is also home to one of the largest tax-free shopping attractions in the country, so visitors can save money when shopping.
3. The Shops at La Cantera – San Antonio, TX
The Shops at La Cantera is an upscale shopping center located in San Antonio, Texas.
The center features over 175 specialty stores, restaurants, and entertainment venues, as well as major department stores such as Nordstrom and Dillard’s.
The outdoor shopping center also features unique outdoor spaces, such as a bar area, outdoor seating, and a seasonal ice skating rink. From fashion trends to home decor accessories, The Shops at La Cantera offers something for everyone.
4. The Domain – Austin, TX
The Domain is a popular shopping mall located in upscale North Austin. It features more than 70 stores and restaurants, including high-end retailers like Nordstrom, Apple, and Armani Exchange.
Visitors can also enjoy a movie theater, outdoor amphitheater, and numerous places to eat and enjoy entertainment. The Domain is a great spot for shoppers to find whatever they’re seeking and experience tax-free shopping with special deals and discounts.
5. River Oaks District – Houston, TX
The City of Houston does not collect property taxes on the individual businesses located in the River Oaks District; property taxes are only assessed on the real estate in the district.
Depending on where in the River Oaks District the mall is located, taxes may be assessed by other taxing entities such as Houston Independent School District, Harris County, Houston Community College, and other local government entities.
6. The Woodlands Mall – The Woodlands, TX
The Woodlands Mall is a shopping mall located in The Woodlands, Texas. It is the largest shopping mall in the Houston metropolitan area and one of the largest shopping malls in the state of Texas. The mall opened in August 1974 and is owned by the Simon Property Group.
It includes more than 150 stores, including major department stores such as Dillard’s and JCPenney, as well as shops, restaurants, and boutique stores. The Woodlands Mall also features several tax-free shopping opportunities, including state-wide sales tax holidays and several additional discounts and tax exemptions.
7. Stonebriar Centre – Frisco, TX
Stonebriar Centre is located in the city of Frisco, Texas. It is a two-level, covered shopping mall with over 180 stores and restaurants. Stonebriar Centre features popular department stores such as Nordstrom, Macy’s, and Dillards, as well as popular retailers like Apple, Victoria’s Secret, and more.
The mall also hosts a variety of custom stores, such as electronics, jewelry, and household goods. Along with the vast selection of shopping options, Stonebriar Centre also offers various forms of entertainment, including a movie theater and an indoor amusement park. In addition, there are several restaurants and eateries located in the mall.
8. Baybrook Mall – Friendswood, TX
Baybrook Mall is located in Friendswood, Texas, and is a popular shopping destination for residents of the area. The mall features over 130 stores and services, including anchors Dillard’s, JCPenney, and AMC Theatres.
Baybrook Mall is owned by General Growth Properties and receives no tax revenue from the City of Friendswood or Harris County. The mall does, however, pay annual property taxes to Friendswood and Harris County, along with other fees and assessments.
These fees and taxes are used to fund public services, such as schools and infrastructure improvements.
9. First Colony Mall – Sugar Land, TX
First Colony Mall is a two-level, indoor shopping mall located in Sugar Land, Texas. It is located just off State Highway 6 and U.S. Highway 59, thirty minutes southwest of downtown Houston.
The mall is anchored by Dillard’s, JCPenney, Macy’s, and Dick’s Sporting Goods, and also features more than 180 specialty stores and restaurants. Additionally, First Colony Mall boasts a 4,130-seat children’s play area, a 24-screen movie theater, and a 15,000-square-foot food court.
Several events and special promotions are held throughout the year, drawing shoppers from all over Texas. First Colony Mall is owned and managed by Simon Property Group.
10. Cielo Vista Mall – El Paso, TX
Cielo Vista Mall is a shopping mall located in El Paso, Texas. It is owned and managed by the General Growth Properties group, which works with retailers, restaurants, and other services to offer the El Paso area a shopping, dining, and entertainment experience.
The mall is home to numerous fashion, lifestyle, and specialty stores, including American Eagle Outfitters, Sephora, H&M, Victoria’s Secret, Foot Locker, and more.
Visitors can also enjoy several restaurants and eateries, a movie theater, and a children’s play area. Cielo Vista Mall is a great place for locals and visitors alike to shop and find something special.
Conclusion:
The impact of shopping malls on taxes is evident. They generate substantial revenue for the government through sales, property, and income taxes.
They also help buoy local economies in that they bring more people into areas that may not have been previously populated and result in them spending more money with local businesses.
Shopping malls also provide employment, which adds to local taxes by way of payroll taxes. While there are drawbacks to shopping malls due to competition, their overall contribution to an area’s tax revenue cannot be denied.