Out of all the asset classes, manufacturing was one of the hardest hit by the global pandemic. Although the federal government provided some financial aid to manufacturers, it wasn’t nearly enough to cover the gap caused by government shutdowns. Fortunately, American manufacturing companies have a unique opportunity to receive some financial relief by appealing both their business personal property and commerce real estate. Watch our final installment of the Property Tax 2021 series to discover the various use cases of external obsolescence that manufacturers can use to appeal their property ..read more

During the earlier half of the year, all domestic and international distribution came to a screeching halt. However, consumer demand intensified, and many distribution centers had to quickly catch up to try and fix supply chain issues once operations resumed. Although e-commerce has helped distribution companies remain strong, the pandemic has brought on significant changes to their commercial properties, such as rent increases. Find out how distribution centers can leverage external obsolescence to appeal their property taxes for the upcoming year ..read more

Before the pandemic ever hit, consumers were already beginning to change the way they shop, shifting from in-store purchases to e-commerce shopping. Once the pandemic struck, many retailers were forced to close their doors and had no revenue coming in from their brick-and-mortar stores. Although we’re nine months into the year, there’s still a state of uncertainty for many retail tenants and owners. Not only does this impact their businesses overall, but also the value of the property itself. Find out what you should start keeping track of now to help you plan your property tax appeal ..read more

RevPAR, or revenue per available room, hit rock bottom in April of 2020, declining by 83.6%. While the hotel industry is on the road to recovery, business travel is still down, and many large-scale events have been rescheduled to next year. Additionally, many hotels are having a hard time managing expenses due to costly sanitation demands and reduced occupancies. In this episode of Property Tax 2021, we discuss the major changes COVID-19 has brought to the hotel industry and how hotel owners and operators can prepare their case for lower property tax valuations ..read more

Office building landlords are dealing with a dramatic shift in terms of the traditional use of the space. While some businesses are choosing to downsize, others are choosing not to renew their lease altogether. In essence, the pandemic is no short-term matter. So, what can landlords do to maintain the value of office buildings and keep up with operating expenses? How does this shift affect property taxes? In this week’s episode of Property Tax 2021, find out how you can start preparing for your property tax appeal so that you can get the reduction you need to recover from the impacts of COVI ..read more

In our last vlog, we discussed how widespread work-from-home policies have nearly vacated tall commercial, residential, and hotel buildings. So, how do we go about tackling the change of properties transitioning from an asset to a temporary liability? How do we get a fair market value assessment ..read more

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From the moment we’ve had to accept a “new normal” due to the COVID-19 pandemic, many U.S. companies have embraced a work-from-home policy to help keep business going. However, this has left many commercial properties empty for the majority of 2020 ..read more

Property tax assessment notices have started to come out. As we suspected, they are arriving with significant increases — up to 255% more. What can you do to appropriately appeal your property taxes this year ..read more

From changing the way we deliver our products and services to how we communicate with one another, COVID-19 has impacted all facets of daily life, including property values ..read more