As we emerge from the global shutdown, the hotel and hospitality industry is coming back strong. There is also a growing sentiment among assessors throughout the country that COVID is over and we are quickly returning to prepandemic economics. This, too, can have a significant impact on assessed values. In some cases, they could double. CLICK ON THE HEADLINE FOR MORE
Should Hotel Owners Brace For Higher Tax Assessments? Read More »
The solar tax credit, which is a dollar-for-dollar reduction in income taxes, has already fallen to 26% thorough 2020 and will be only 22% in 2021. By 2022, the tax credit for commercial properties will be a mere 10% and zero for residences. CLICK ON THE HEADLINE FOR MORE
Important Solar Tax Credits For Businesses Will Be Cut In Half By 2022 Read More »
Many of New York City’s biggest hotels closed their doors in March when the coronavirus wiped out tourism and business travel. The shutdowns were supposed to be temporary, but six months later, with no potential influx of visitors in sight, a wave of permanent closures has begun. CLICK ON THE HEADLINE FOR MORE
Pandemic Puts N.Y.C. Hotels on the Brink: ‘A Complete Washout’ Read More »
Compared to World War III, as well as a Category 5 hurricane, the pandemic has been pummeling the economy since March. And the prediction for the future? It’s not going to look like 2019. Not for a while. CLICK ON THE HEADLINE FOR MORE
Prediction: Demand For Hotels, Retail Will Not Return To Pre-Covid Levels \’For Awhile\’ Read More »
Even with many state courts temporarily closed to new filings, there are already at least 167 COVID-19 business income lawsuits across the country — 166 brought by policyholders and one carrier-initiated declaratory judgment action, CLICK ON THE HEADLINE FOR MORE
Major Trends In COVID-19 Business Interruption Lawsuits Read More »