The retails and commercial property in Red Oak are intended to generate a profit, either from capital gain or rental income. Commercial property typically includes includes office buildings, medical centers, hotels, malls, retail stores, multifamily housing buildings, farm land, warehouses, and garages.
Red Oak commercial buildings are used for commercial purposes, and include office buildings, warehouses, and retail buildings (e.g. convenience stores, 'big box' stores, and shopping malls). Red Oak does have regulations on commercial zoning, and has the authority to designate any zoned area as such; a business must be located in a commercial area or area zoned at least partially for commerce.
The City of Red Oak adopted a tax rate that will raise more taxes for maintenance and operations than last year's tax rate. The tax rate will effectively be raised by 5.38 percent and will raise taxes for maintenance and operations on a $100,000 home by approximately $-40.57.