It is no secret that Philadelphia (the City), like many major cities, is facing record high commercial vacancy rates. This is problematic for the City as it is undergoing a citywide reassessment for real estate taxes. The...more
Every spring, New York properties have an opportunity to review and consider the accuracy of their property assessments. This year, many commercial property owners are facing a cold reality – property assessments that do not...more
Every summer, the Pennsylvania State Tax Equalization Board (STEB) unveils the Common Level Ratios (CLR) for each county. These ratios play a pivotal role in calculating real estate assessments in a tax appeal process. The...more
On May 9, 2023, the Maryland Supreme Court issued an order that revived the state’s digital advertising tax, which was previously found to be unconstitutional by a Maryland circuit court. The Supreme Court’s decision did not...more
No one can deny that the fall months have a certain allure. With the changing leaves, American author Jim Bishop noted that “Autumn carries more gold in its pocket than all the other seasons.” Of course, Autumn isn’t the only...more
In the best of times, the restaurant industry is notorious for its carpaccio-thin profit margins. Now, COVID-19 has forced most restaurants to limit service to delivery/takeaway, or shut their doors altogether. Similar to...more
COVID-19 has been devastating for hotels and other businesses in the hospitality industry because of significant business closures and the elimination of recreational travel. Oxford Economics predicts 2.8 to 3.4 million jobs...more
The word "looming" seems to have become very popular during the past several years within the context of describing potential commercial credit maturities and defaults and, more recently, a potential recession. "Looming" may...more
As discussed in our article almost two years ago, the City of Philadelphia was likely to find itself in an uphill battle against commercial property owners following the Pennsylvania Supreme Court decision in Valley Forge...more
Property Assessed Clean Energy (PACE) loans provide property owners with financing for “green” improvements designed to increase energy efficiency, water conservation, disaster resiliency and renewable energy solutions. PACE...more