Half-Empty Office Buildings Will Likely Lead to Higher Taxes for All Property Owners
March 29, 2023 | Erik Sherman | GlobeSt.com
A topic that doesn’t come up often enough when discussing the future of office is property taxes. Because the money that comes into local and county governments is significant. But what will happen when office buildings’ valuations decline because of the shifting patterns of demand?
As Green Street recently wrote, “The likely outcome is for commercial real estate to bear higher tax burdens via higher property taxes, transfer taxes, and potentially ‘green’ taxes.
