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The Highest Commercial Property Taxes Are Found In …

Phil Hall
May 19, 2017
When it comes to property taxes in commercial real estate world, New York City is the reigning champ

When it comes to property taxes in commercial real estate world, New York City is the reigning champ. According to a new analysis released by COMMERCIALCafé, 19 of the 20 highest taxpaying buildings are found in the Big Apple.
 
Leading the list with an astonishing $71 million property tax bill is the General Motors Building, a celebrated Fifth Avenue structure that was once co-owned by Donald Trump. The second highest property taxes, and the only multifamily development on the list, was Stuyvesant Town, the 8,757-unit residential community built in 1945—it pays more than $61 million on property taxes, or $7 per square foot. The only non-New York property on the list was The Exelon – Byron Nuclear Generating Station in Rockvale Township, Ill., which pays nearly $37 million in property taxes.
 
COMMERCIALCafé also expanded its list to a top 100 ranking, but only one West Coast property was cited there: The Disneyland Resort mixed-use complex in Anaheim, Calif, which came in 82nd place with close to $16 million in property taxes.


 
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