Property owners in San Francisco—including some of the largest landlords in the city—have been bombarding the county with appeals of property tax assessments, seeking tax cuts reflecting the plunge in valuations of offices, shopping centers and hotels as well as homes.
The list of CRE players queueing up to request reductions includes Brookfield, Blackstone and Columbia Property Trust, according to a report in Bloomberg.
According to filings with the San Francisco Assessment Appeals Board, Brookfield requested a 75% reduction in the value of an office tower at 685 Market Street and a 68% assessment reduction for One Post Street.
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