Benchmarking commercial property taxes with Sandi Prendergast

If commercial property taxes are based on market value, why can property tax assessments go up when market values are going down? And how can you compare property taxes for different property types across different cities? We get some answers to those questions and more as we sit down with Sandi Prendergast, Director of Altus Group’s research team, to discuss findings from Altus Group’s US Real Property Tax Benchmark report. With over 25 years of property tax expertise, Sandi walks us through the report, shedding light on effective tax rates, assessment disparities and actionable strategies for managing your portfolio’s tax burden.Key Takeaways:(01:53) Sandi Prendergast’s background.(03:39) Overview of the US Real Property Tax Benchmark Report.(09:20) Key findings and insights from the report.(13:03) Comparing taxes and impacts across different markets.(15:13) Comparing taxes and impacts across property types.(16:53) The biggest takeaway from the report.(18:55) Why is there such a long period between revaluations in certain cities?(20:04) Urban doom loop and property tax implications.(23:07) The outlook on US property tax.(24:33) Recommendations for property owners dealing with tax problems/assessment disparities.(25:58) How to access the US Real Property Tax Benchmark Report.Resources Mentioned:Sandi Prendergast -https://www.linkedin.com/in/sandi-prendergast-0b266722/?originalSubdomain=caAltus Group -https://www.linkedin.com/company/altus-group/US Real Property Tax Benchmark Report -https://www.altusgroup.com/featured-insights/united-states-property-tax-benchmark-report/Thanks for listening to the CRE Exchange podcast, powered by Altus Group. If you enjoyed this episode, please leave a review to help get the word out about the show. And be sure to subscribe so you never miss another insightful conversation.#CRE #CommercialRealEstate #Property