Past Event: January 15, 2014: Property Taxes: The New Burden to Be Considered In Business Decisions
Until recently, property taxpayers expected moderate increases in their property tax bills over time and were able to budget for them. With the recent downturn in the economy and the drop in home prices, some businesses have seen dramatic jumps in their property tax bills as tax burdens shift from residential taxpayers to commercial taxpayers. Property tax rates that declined during the 1990s and the pre-2008 market crash are now trending upward. Why is this happening? How is the business community reacting? What can be done to reverse these trends and jump start economic development in declining markets? He will be sharing his observations and research after more than 20 years of working on this issue.