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 […]
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 […]