New Jersey, Illinois Ranked Worst States for Property Taxes

Written on March 08, 2016 at 04:36 PM

Once again, New Jersey and Illinois ranked as the two worst states in the country when it comes to property taxes, according to a new survey from personal finance website WalletHub. In order to identify the states with the highest and lowest property taxes, WalletHub’s analysts compared the 50 states and the District of Columbia using U.S. Census Bureau data to determine real-estate property tax rates. While property taxes vary from county to county across the state, WalletHub divided the “median real-estate tax payment” by the “median home price” in each state to determine the property tax rate.

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Categories: Delaware, South Carolina, New Jersey, Alabama, Real Property, Wisconsin, District of Columbia, Illinois, Texas, Hawaii, Louisiana, New Hampshire

U.S. Hotel Industry Reported Positive Results in Three Key Performance Metrics

Written on May 21, 2014 at 10:54 AM

Smith Travel Research, Inc. (STR) released the U.S. hotel performance data for the month of April 2014, and the industry continues to post positive results in key performance metrics. Overall, the U.S. hotel industry’s occupancy was up 3.2 percent to 65.7 percent, its average daily rate (ADR) rose 4.0 percent to $114.67, and its revenue per available (RevPAR) room increased 7.4 percent to $75.30. April was a good month for hotels, as the industry saw the highest RevPAR growth (+7.4 percent) so far this year and the strongest in the last 12 months, according to STR. In April 2013, RevPAR growth was also 7.4 percent, so this year’s growth was impressive against this tough comparable. ADR grew 4.0 percent, and has been above 3.0 percent each month since January 2011. STR expects rate growth to continue unabated for the foreseeable future. Supply growth for the month increased 0.8 percent, same as during the last two months. However, because of the strong growth in the under construction pipeline, STR expects supply will grow at a faster pace in coming months. Despite the Easter and Passover calendar shift, demand still grew 4.0 percent, which means the industry sold 3.7 million more rooms this April compared to April 2013.

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Categories: Michigan, Real Property, National, District of Columbia, Hospitality, Colorado, Tennessee, Hotels, Massachusetts, Texas, Hawaii, California, Florida

Hoteliers Left Money on Table in 2013

Written on January 01, 2014 at 07:20 AM

As hoteliers reflect on 2013, many are asking if they've left money on the table they'll never get back. According to Hotel News Now, the rapid and record rise of demand during the recent upturn has overshadowed a more sluggish surge in average daily rate. And as the metric continues to decelerate as 2013 comes to a close, many hoteliers fear it's too little too late. Post 9/11 the U.S. hotel industry saw occupancy and ADR decrease 6.7% and 4.5%, respectively, on a 12-month-moving average basis. Occupancy eventually recovered to a peak of 3.6% growth in February 2005, but ADR bounced back at a much faster clipping, hitting 7.5% growth for five consecutive months beginning in October 2006. In this most recent cycle, however, occupancy recovered much more quickly and significantly, topping out with growth of 6.1% during February 2011. ADR petered out at only 4.3% growth in January 2013.

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Categories: Real Property, Hotels, Hawaii, Florida

Miami's Hotel Market is Heating Up

Written on December 18, 2013 at 08:21 AM

It may be the dead of winter for the rest of the country, but Miami, Florida's hotel market is hotter than ever. There seems to be no end in sight to the city's rate growth, according to Miami hoteliers and owners who have been experiencing sky-rocketing rates and an investment climate similar to New York's. In fact, Hotel News Now and STR report that Miami's revenue per available room was at $135.39 through the first 10 months of the year, behind only New York ($213.86), Oahu Island, Hawaii ($176.13) and San Francisco ($160.10). Hotel owners have seen "remarkable" RevPAR growth year over year, and are optimistic that the trend will continue in 2014. Many believe that the market hasn't even come close to hitting its ceiling, and question if there is one at all.

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Categories: Real Property, Hospitality, Hotels, New York, Hawaii, California, Florida

Regions Reliant on Government Spending Take Hits

Written on May 16, 2013 at 08:22 AM

Sequestration and its $85 billion in federal budget cuts planned for this year will bring significant challenges on the U.S. economy and the commercial real estate recovery. According to the National Real Estate Investor, the forced reductions that began March 1st will have real consequences for the U.S. economy, including eliminated and reduced government contracts, reduced private and public sector jobs and furloughed workers.

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Categories: Maryland, Alaska, Real Property, Sequestration, District of Columbia, Financial Services, Virginia, Hawaii, Kentucky, Economy

Honolulu, HI Office Vacancy Rose in the First Quarter

Written on June 15, 2012 at 09:20 AM

Honolulu, Hawaii saw its office vacancy rate rise to 14.6% during the first quarter of 2012. According to the Pacific Business News, the overall market lost 16,929 square feet of occupancy during the quarter. Downtown Honolulu specifically lost 43,091 square feet of occupancy in that time, but was saved somewhat by an existing tenant expanding their space by nearly 28,000 square feet. The central business district area of downtown showed a 16.1% vacancy in the first quarter.

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Categories: Office, Real Property, Leased, Hawaii, Economy

Hawaii Deadline

Written on December 15, 2009 at 09:37 AM

Jurisdiction: State of Hawaii
Appeal Deadline: Oahu Jan 15, Other Islands Apr 9
Important Reminders:

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Categories: Paradigm Info, Hawaii

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