Property Tax Assessment Appeals to Cut Millions from City Tax Rolls

Per the Hartford Business Journal, Hartford’s office market is facing challenges with landlords successfully appealing property tax assessments, leading to millions in lost city revenues. The city’s revaluation process has been questioned after two major downtown office towers had their values significantly reduced, resulting in tax refunds and future savings for the owners. This trend reflects the broader impact of the pandemic, as demand for office space declines and cities consider repurposing strategies to revitalize downtown areas.

Click Here: Market Reset: Hartford landlords’ successful property tax assessment appeals will cut millions from city tax rolls; more office sector storm clouds hover for more information.