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 […]
Commercial Property Taxes on Long Island
What You Need to Know About Commercial Property Taxes on Long Island Living and working on Long Island, it may feel like you pay some of the highest taxes in the Country. The truth? You do. According to the Tax Foundation, New York State collects the 4th highest state & local taxes per capita in […]
What to know about property taxes for commercial adaptive reuse projects
What to know about property taxes for commercial adaptive reuse projects Reuse / recycle is a great mantra when it comes to sustainability. These principles are central to the commercial real estate practice of redeveloping aging buildings, also known as adaptive reuse. This practice is especially popular in the industrial sector. Retrofitting an older commercial […]
New York’s Section 485-b Offers Commercial Property Owners Important Tax Exemption Benefits
New York’s Section 485-b Offers Commercial Property Owners Important Tax Exemption Benefits Commercial real estate owners have a strategic advantage when they improve their properties. It only makes sense to take care of your investment and keep up with real estate trends and tenants’ needs. The downside to these improvements is that they can increase […]
10 Reasons to Appeal Your Commercial Property Tax Assessment
10 Reasons to Appeal Your Commercial Property Tax Assessment Appealing your commercial property tax assessment is one of the best business decisions you can make to lower your operating costs. Property taxes can account for up to 35% of your commercial building’s operating costs in New York. There are so many important reasons to appeal […]
Filing an appeal for your real estate taxes – what is the process?
Filing an appeal for your real estate taxes – what is the process? Let’s take a deeper look at what it means to file an appeal for your real estate taxes and why you need to do so annually. How are property taxes calculated? As a commercial property owner, one of the largest operating expenses […]
Which Pandemic-Related Changes Continue to Affect Commercial Property Taxes?
Update: Which Pandemic-Related Changes Continue to Affect Commercial Property Taxes? During the last few years, when businesses were severely impacted by the COVID-19 pandemic, municipalities adjusted deadlines for property tax grievance filings and tax due dates to allow more time to file. There were also a series of other adjustments made. You are likely wondering […]
Good News for Commercial Net Tenants in NY with Recent Property Tax Ruling
Good News for Commercial Net Tenants in NY with Recent Property Tax Ruling A net lease agreement is typically structured so the tenant pays all the taxes, maintenance costs, insurance fees, utilities, etc. These obligations allow the net lease tenant to act as the property owner in many ways, without holding legal title. A net […]
What You Need to Know About Nassau County Commercial Property Tax Grievance – Due Dates & More
What You Need to Know About Nassau County Commercial Property Tax Grievance – Due Dates & More The deadline for property tax grievance in Nassau County changes slightly each year. The current deadline was extended to April 30, 2022 and we will provide the updated deadline for 2023 when it is set. Realty Tax Challenge […]
5 Surprising Environmental Factors That Could Affect Your Commercial Property Assessment
5 Surprising Environmental Factors That Could Affect Your Commercial Property Assessment If you are looking to appeal your property taxes, your success will largely be determined by whether or not your commercial property is accurately assessed. However, a commercial real estate appraisal can be influenced by many factors, and the appraiser used by your local […]
