Do Assessors Share Your Values? Or Are They Just Out of Touch?
Do Assessors Share Your Values? Or Are They Just Out of Touch? When it comes to relationships, most of us look for people who share our values—so why should it be any different with property assessors? The truth is, many commercial property owners in New York are asking themselves: Do assessors share our values? Unfortunately, […]
The Impact of Declining Property Values and Unpaid Taxes on NY Commercial Property Valuations
The Impact of Declining Property Values and Unpaid Taxes on NY Commercial Property Valuations The commercial real estate market in New York is facing a significant downturn, with properties selling at unprecedented discounts. This devaluation has a domino effect on property tax assessments, particularly for office buildings, leading to substantial budget shortfalls for municipalities. Compounding […]
Lessons for NY Office Owners: Case Study from Boston
Lessons for NY Office Owners: Case Study from Boston Commercial and office building owners in New York State should be aware of the potential impact of Boston’s office real estate downturn on their property values, and subsequently their property taxes. Boston’s experience, outlined in this post, highlights similar vulnerabilities faced by urban centers like those […]
Property Tax Insights on Retail Real Estate Trends
Property Tax Insights on Retail Real Estate Trends In this ever-changing retail real estate market, property owners find themselves at the forefront of seismic shifts, shaped by evolving consumer behaviors and constant innovation. This blog provides expert insight on the current trends influencing the retail landscape, their implications on commercial property valuations, and how property […]
NY Self-Storage Owners: Cut Costs with Property Tax Appeals
NY Self-Storage Owners: Cut Costs with Property Tax Appeals As a self-storage facility owner, you are probably quite familiar with the fact that your property tax bill is one of the largest annual operating costs for your business. In NY this is exacerbated by the fact that out of the top 8 counties with the […]
Free-Falling Office Values: A Catalyst for Property Tax Challenges
Free-Falling Office Values: A Catalyst for Property Tax Challenges Certain segments of the U.S. commercial real estate market are facing significant difficulties in recovering from the pandemic, especially office buildings. The news is awash with reports of large office landlords defaulting on loans. Many highly leveraged owners expect significant challenges ahead. Almost all NY commercial […]
What Hotel Owners Need to Know About Appealing Their Property Taxes in NY
What Hotel Owners Need to Know About Appealing Their Property Taxes in NY The hotel industry has been through a tough few years since the start of the pandemic. After 2020 broke records as the worst year ever for the hotel industry according to STR, 2021 brought gains, but they were varied. The recovery pace in spring and […]
Navigating Property Taxes in a Shifting Office and Retail Landscape
Navigating Property Taxes in a Shifting Office and Retail Landscape Retail and office owners are facing numerous challenges to remain profitable. During the pandemic, office occupancy rates plummeted due to the combined rise of the gig economy and the shift to remote work. Retail businesses, especially those that support office workers, have seen steep declines […]
What Commercial Property Owners Need to Know About the Use of AI in Property Tax
What Commercial Property Owners Need to Know About the Use of AI in Property Tax New technology is constantly being introduced into the market, more rapidly than ever. How do you know which of these trends are worth paying attention to, which may disrupt the established way of doing things, and which will fade away? […]
The Latest Property Tax Developments in Dutchess County
The Latest Property Tax Developments in Dutchess County We are tracking a few important stories in Dutchess County that could affect property taxes. Our goal is to keep commercial property owners informed of any big developments or changes that they should be aware of. Here’s a roundup: 2023 Budget Proposal County Executive Marc Molinaro proposed […]
