Insurance Shrinkflation Is Costing You—And Tax Assessors Aren’t Accounting for It
Insurance Shrinkflation Is Costing You—And Tax Assessors Aren’t Accounting for It New York commercial property owners are facing a growing financial burden in 2025: skyrocketing insurance premiums and shrinking coverage that fails to keep pace with actual rebuilding costs. This isn’t just an increase in expenses—it’s shrinkflation in action. Property owners are now paying double […]
Your Property’s Value Depends on Who’s Running the Numbers
Your Property’s Value Depends on Who’s Running the Numbers Commercial real estate is in rough shape. Interest rates have soared, operating costs are rising, and leasing demand is inconsistent. And it’s not getting better anytime soon. The biggest problem? Valuation. What’s your property worth? The answer depends entirely on who’s doing the math—and how they […]
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, […]
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 […]
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 […]
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 […]
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 […]
