Property Management News

Corporations that have been focused on the potential windfall that tax reform will bring are getting a reality check when they look at their property tax bills. Commercial and multifamily properties across the country are seeing a spike in property taxes as assessors continue to reset values to higher levels. It has taken property tax appraisals time to catch up from the bounce back in values that have occurred after the recession. Some jurisdictions assess commercial property values every year, while others reassess values on a two or three-year cycle. In some cases, such as with the Carolinas, assessments occur every seven years, notes Dorothy Radicevich, a principal in the state and... Read more

For the first time since the Great Recession, there are signs of a broad shift in America’s housing market. Homeownership rates are inching up, while the number of new rental households has declined slightly. “We are more confident that there is a turnaround in homeownership,” said Chris Herbert, managing director of the Joint Center for Housing Studies at Harvard University. “Last year was the first year on a year-over-year basis we saw an increase.” U.S. homeownership rose to 64.2 percent by the end of last year, according to the Harvard Joint Center’s just-released State of the Nation’s Housing report for 2018. The uptick is the first in 12... Read more