2021: The year of the commercial property tax challenges?
[{"id": "g7oo3rc", "text": "It certainly appears that way. A fair amount of owners will be facing large tax bills, with reduced income. Time will tell.", "replies": [{"id": "g7qcuy4", "text": "It\u2019s usually a pass through expense (also assuming it\u2019s not capped over a base year) but I can\u2019t imagine renters don\u2019t come back at the owner with a, \u201care you fing kidding me\u201d?", "replies": [{"id": "g7qgu27", "text": "True, and I'll add to that the landlord pays the taxes on any vacant spaces, and the cheaper the taxes/op ex, the more I can collect in rent.  \n\nPlenty of incentive to get those taxes lower all the way around.", "replies": [], "depth": 3}, {"id": "g7qxpmz", "text": "Urban multifamily is getting crushed on this, NER down significantly plus crazy taxes... at least the GSEs are propping up the debt market...", "replies": [{"id": "g7r0mrb", "text": "It\u2019s down a bit but will come back, worst is in City of renters by choice like NYC and San Fran, where they just leave for the country. \n\nResidential is usually exempt from split roll initiatives likes California.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "g7oqnwj", "text": "A locality near me was surveying commerical building owners about Cre taxes this year.  Questions about tenant rent deferral, and such. Am interested to see how this all goes!", "replies": [{"id": "g7p3896", "text": "Yeah, my local jurisdiction is actively soliciting information from commercial property owners that believe their property values have been negatively impacted by COVID-19 to help with the upcoming January 1st 2021 assessment. Will be interesting for sure.  \n\n[https://www.kingcounty.gov/depts/assessor/COVID-value-review.aspx](https://www.kingcounty.gov/depts/assessor/COVID-value-review.aspx)", "replies": [], "depth": 2}], "depth": 1}, {"id": "g7qzpmx", "text": "About damn time", "replies": [], "depth": 1}, {"id": "g7umkrd", "text": "Appraiser here. I'm already doing more tax appeals (especially for retail) than usual. Also doing more divorces than usual.", "replies": [], "depth": 1}]