Property taxes have historically been US local governments' most stable and reliable revenue stream. With retail increasingly on-line, tourism largely on hold and occupancy of office space in cities way down, the coronavirus crisis is driving people and businesses to rethink their long-term real estate needs. These trends have potential implications for the major property types – single family, multifamily, commercial and industrial – that comprise local government tax bases in urban, suburban and rural locations.
Topics include:
- Stability of property tax revenue to date
- Residential property value trends
- Implication of low office occupancy and potential for longer term change in needs for office space
- Potential for changes values of retail and restaurant properties in city centers and elsewhere
- Implications of decline in tourism and business travel for hotel property values
Speakers:
- Tom Jacobs, Senior Vice President/Manager (Moderator)
- Kevin Fagan, VP-Sr Credit Officer
- Lauren Von Bargen, AVP-Analyst
- Heather Guss, Analyst
