Austin, Atlanta Lead Race to Win Amazon's HQ2

Written on October 26, 2017 at 11:44 AM

After Amazon announced plans in September to build a second headquarters (HQ2) in an undetermined location, hundreds of local officials across North America have submitted proposals to try and win the $5 billion construction investment and 50,000 new jobs for their city. In an effort to lure Amazon, proposals boast potential tax breaks, local benefits and opportunities.

However, Moody’s Analytics metro area analysts ranked the largest metro areas using a data driven approach, and made the case for an individual city based on qualitative judgment. The analysts looked at five factors: business environment, human capital, cost, quality of life, and transportation. It then assigned a number to each city and a weight to each factor to come up with its list of 10 cities. An additional category, geography, was considered, but was not factored into the rankings. Moody's excluded Seattle, the site of Amazon's current headquarters, from consideration.

Below are Amazon's Top 10 Cities, according to Moody's Analytics:

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Categories: Pennsylvania, Georgia, Real Property, Massachusetts, Texas, New York, Florida, Oregon, Utah

4 Tips to Keep Property Taxes from Hurting Your Bottom Line

Written on October 25, 2017 at 11:48 AM

By Matthew Fossey, EVP of Operations - East | QSR Magazine

Property taxes can be one of the biggest line item costs for restaurant owners, but they don’t have to be. There are strategies they can use and information they can gather to help manage, and even lower, the amount operators pay in property taxes. Below are tips to keep property taxes from impacting a restaurant’s bottom line:

Your restaurant’s assessment matters … but you may be able to change it

A property’s assessment plays a big part in how much the owner pays in property tax, so it’s crucial the assessment is fair and accurate. However, sometimes assessments in a certain area haven’t been done in a while or the market has drastically changed since the last assessment. In these cases, a restaurant owner should respond to the assessment they have been given in order to ensure the values are as low as possible. The frequency at which a property can be reassessed varies on the location. In some areas, properties can be re-assessed annually or could range three to five years.

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Categories: Real Property, Retail, Paradigm Info

Chicago Commercial Property Sales on Pace for Three-Year Low

Written on October 23, 2017 at 03:47 PM

Over the past two years, Chicago-area landlords have capitalized on a strong economy and low interest rates by selling properties at a rapid pace. But after a whirlwind couple of years of real estate sales transactions, deal volume in the Chicago area is finally slowing down. Sales of commercial properties year to date through August were down 20 percent from the same period in 2016, to $9.8 billion, according to New York-based research firm Real Capital Analytics. While nearly $10 billion is still far more action than there was coming out of the Great Recession, it's the lowest amount spent on office, industrial, retail, apartment and hotel properties in the market through the first eight months of the year since 2014.

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Categories: Office, Industrial, Real Property, Retail, Hotels, Multi Family, Illinois

4 Ways to Reduce Property Taxes For Your Facility

Written on October 16, 2017 at 12:43 PM

By Seth Krchmar, Managing Consultant | MFRTECH

Keeping costs at a minimum is often a top priority for owner/operators of manufacturing facilities; however, they often overlook one key area that can positively impact their bottom line. In fact, property taxes are often one of the biggest line item expenses manufacturing facilities face and can represent 30 to 50 percent of operating costs. The good news is that owners don’t have to take them at face value. 

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Categories: Heavy Industrial, Personal Property, Automobile Manufacturing, Real Property, Industrial & Manufacturing, Paradigm Info

'Internet-Resistant' Strip Malls Emerge as a Top Performer in Retail

Written on October 10, 2017 at 01:25 PM

Despite the retail industry continuing to struggle with rising vacancies due to big-box and department store closures across the nation, retail real estate’s fundamentals have remained strong. Mall operators continue to adapt to the changing landscape, and high-traffic, urban metro markets remain the best-performing in the sector. However, retail's red-headed stepchild – the strip mall – has emerged as a leader for the sector, second only to high street opportunities in performance.

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Categories: Strip Centers, Retail

4 Ways to Prevent Property Taxes From Impacting Your Bottom Line

Written on October 05, 2017 at 03:08 PM

By Matthew Fossey, EVP of Operations - East | Multi-Unit Franchisee

Year after year, property taxes are one of the biggest line item expenses for franchise owners. But the good news is, there are strategies owners can employ to manage property taxes and lower the amount they pay.

Here are four things any franchise owner can do to limit the impact property taxes have on their bottom line:

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Categories: Real Property, Retail, Paradigm Info

Katy ISD OKs Post-Harvey Property Tax Reappraisal

Written on October 04, 2017 at 11:14 AM

On Friday, Katy Independent School District trustees voted unanimously to authorize the reappraisal of property damaged by Hurricane Harvey within the school district boundaries, offering some much needed relief to property owners who were impacted by the storm. According to the Houston Chronicle, initial estimates say Katy ISD could lose between $1.5 million and $3.5 million if there is a temporary reappraisal of damaged property taxed by the school district. However, board members strongly supported the call to offer a property tax reappraisal to help their community and said any temporary financial setback to Katy ISD wouldn't impact the district's core mission.

Fort Bend and Montgomery County were the first counties to enact article 23.02 of the Texas State Property Tax Code, which allows taxing entities to authorize a reappraisal of damaged property in a formally declared disaster area. For taxing jurisdictions that enact the reappraisal, new values will be effective as of the August 31st disaster date and property taxes will be prorated for the days remaining in the calendar year.  

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Categories: Real Property, Texas




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