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 […]
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 […]
