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 […]
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 […]
Office Market Woes – What It Takes To Fill Space and How You Can Use The Downturn to Your Advantage
Office Market Woes – What It Takes To Fill Space and How You Can Use The Downturn to Your Advantage There has been so much focus in the news on the ups and downs of the office market since the start of the pandemic. When workers began to work from home en masse, it caused […]
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 […]
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 […]
