Land and floor space used only by the church are exempt, he said, but the rest of the seafood plant site is taxable, and the tax treatment of the sports dome site is still under review.
It takes up 8,000 feet of floor space, uses 5,800 processors, has 2.6 terabytes of memory and 62.5 terabytes of storage space.
This result suggests that electricity demand has markedly increased in the commercial sector because of factors, such as an increase in the floor space used by businesses and developments in office automation across the country.
It is a true one-stop shop, and is proving to be a thriving community hub, with ground-floor spaces used for exercise sessions and cooking classes.
Underneath the plaza will be a large museum of the events, which is still under construction, and all around are rising office towers that will replace the 10m square feet of floor space that used to be on the site.
Covering more than 180 square feet of floor space, it uses model train tracks, Tinkertoys, beads and shells, plastic tubing, wire and, of course, clay to construct a fantastical double loop, with elements modeled after truss structures, capillary beds and even the Tappan Zee Bridge, which is configured with black pipe cleaners.
Rent values based on floor space were used to value buildings, many of which have no book value if a 30-year life is assumed.
The elevator system, which made use of sky lobbies and a system of express and local elevators, allowed substantial floor space to be used for office purposes by making the structural core smaller.
The businesses converted more than 60percentt of their floor space to other uses, with martial arts videos on the shelves, for instance, rather than pornography, and stayed in business.
Mr. Chen said at a news briefing in Hong Kong on Monday that the electronics retailer would focus on opening megastores this year to use floor space more efficiently, Bloomberg reported.
