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The value of commercial real estate dictates, at least in NYC, how much tax revenue can be collected. This could be a major blow to state budgets (which can be
by nxm 4y ago
The value of commercial real estate dictates, at least in NYC, how much tax revenue can be collected. This could be a major blow to state budgets (which can be good I guess if it forces states to reduce wasteful spending)
- bequanna 4y agoIs that how it works? I thought it was the other way around: states/municipalities made their budgets and spread the property tax liability around according to the property value in proportion to the sum total value of all property. So, if all property values went down by the same percent, taxes would stay the same. Maybe this differs by state?