How Much Would It Cost To Buy Lockport, New York?
A Facebook post went viral on Thursday suggesting that the City of Lockport could be purchased, but if it was, how much would the price tag be?
Background Of Social Media Post
Within the last week, Twitter has become a privately owned company after the social media platform agreed to a business deal with Elon Musk.
Musk placed a bid of $44 billion for the social media platform, and the company agreed to the terms.
Shareholders are set to be paid out at a rate of $54.20 per share.
When the news broke about Musk’s pending purchase of Twitter, people had a lot of differing opinions, but one person in Western New York decided to react with a meme.
The social media post was published by 716 Memes, only days after the Twitter news, suggesting that Elon Musk could acquire the City of Lockport next.
I'll admit, I did laugh, but we all know that the City of Lockport is worth more than that…if Elon Musk were to purchase it, though there has not been any news of that happening.
How Much Is Lockport, New York?
I called the City of Lockport’s treasurer office to see if there was some way to measure the true monetary value of the city, to which the person on the other end of the phone said, “I do not know the answer to that.” Lol.
But that didn't stop me from finding out the true price tag of the City of Lockport!
City of Lockport's Overall Value
It occurred to me that the City Of Lockport (and any city in Western New York) would be measured in value based on the individual property value combined. For the City of Lockport, the value of all combined property in the City of Lockport is $821,933,125.
The total for the Town of Lockport surpassed $1.5 billion! Based on some quick math, the Town of Lockport is valued at $1,559,208,075.
How Can You Find These Numbers?
The data for individual property value is all collected by each county so they can assess and collect taxes, and they have to include government buildings in that report. If you want to double check the math, you can find those exact numbers here.
And if you were curious (like I was), the total estimated value of all the property within the city of buffalo is $16,913,113,056