Amidst a rush to reduce tax burdens in major cities like New York City, San Francisco, and Washington, D.C., owners are aggressively filing property tax appeals, with some seeking reductions as high as 75 percent, a sign of the extreme uncertainty of commercial real estate values. Joseph Cioffi provided insightful commentary in the Commercial Observer article titled “Flood of Property Assessment Appeals Could Impact U.S. Cities,” offering his perspective on the reasons for the appeals and considerations owners must consider before making them.
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