The COVID-19 pandemic has created a time of great uncertainty that has intensified pre-existing political and economic uncertainties, and has severely disrupted commercial real estate operations.
A key question being asked by many commercial owners is how will the pandemic impact property taxes going forward? What can I do? Will assessors grant reductions in assessments due to the pandemic?
Federal, state and local governments will be experiencing massive budget deficits in 2021. The need for revenue from all sources will be at an all-time high while property taxes are the most stable and greatest funding sources of local revenue.
Simplified, increases in government spending combined with a reduced tax base equal increases in property tax rates. A tax rate increase that exceeds any value reduction, means paying more in property taxes.
There is now a way to combat this w/o any upfront fees via PropertyTaxBenefits.com
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