The Impact of Real Estate Taxes on the Economy

In many municipalities, real estate taxes make up 50 to 70% of their revenue. "When it starts to go the wrong way, obviously it's going to affect everyone," he says. In office space, you're going to see a divergence of a flight to quality, class A space in New York,. But when you have class B buildings, people don't want to come back to the workplace and work there.