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With many still reeling from the recent government shutdown, and sequestration uncertainty still looming, it is very obvious that federal funding to state and local governments will continue to be diminished.
To help offset these deficits, property taxes -- commercial real estate specifically -- are bound to increase dramatically to plug holes in decimated state and local budgets. For property owners, this can come as a major shock, as property tax is the most significant expense, outside of a mortgage. What is often viewed as a fixed expense will rise significantly, and unexpectedly.
Today we are speaking with Ross Litkenhous, Principal with SC&H Group, about this challenge and much more.
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It's good to talk.