Originally Posted by JohnnyJ
They will also have less students to teach and less people that utilize the services. Generally, losing industry hurts much more to the tax base than residental unless it is a bedroom community with no commericial/industrial tax base.
While I agree that losing the commercial or industrial base for a community can be much more devastating than losing the residential tax base, it's not as if the cities have planned well in advance and have a big cushion of tax revenues that they can stand to lose.
Additionally, those students who move out of one district are going to have to move into another district. It's a zero-sum game. And most often, those families who have children but get foreclosed upon are probably going to remain in the same area, often going into a rental within the same district while leaving an empty home somewhere else in the district to sit and rot.