Downtown Deficits
from The Muni Lowdown
On the Debtwire Municipals Muni Lowdown podcast, Managing Editor Paul Greaves speaks with Thomas Brosy, a senior research associate with The Tax Policy Center and Reporter Kunal Kamal about the impact of declining commercial property revenues on city budgets. Thomas kicks off the podcast by delving into the intricate landscape of property tax dynamics and the potential impact on municipal revenues. Thomas proceeds to explain the diverging trends in residential and commercial property tax collections, which leads to an explanation of how a city’s budget projections are impacted. Thomas discusses the “lagging indicator” nature of property tax collections and why that gives municipalities “a window” to develop alternative revenue strategies for absorbing any loss due to falling commercial property tax revenues. Thomas moves the conversation to identifying cities most vulnerable to revenue loss due to lower commercial property tax collections. He also provides the key characteristics of these municipalities. The podcast concludes with Thomas discussing the long-term shifts in work patterns and urban populations and how those trends influence the trajectory of commercial real estate values, as well as implications for future revenue streams for municipalities. #citybudget #muniland #propertytaxes #officevalues #commercialrealestate #CRE
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On the Debtwire Municipals Muni Lowdown podcast, Managing Editor Paul Greaves speaks with Thomas Brosy, a senior research associate with The Tax Policy Center and Reporter Kunal Kamal about declining commercial property revenues and city budgets.
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