The FTR Experts were posed with the question, "Will states cut taxes to try and drive up budget revenues?"
Following The 2021 Outlook, the final session of the FTR Engage virtual speaking series, the FTR Experts sat down to answer listener questions beyond what was covered during the Q&A within the presentation.
- I don’t think you’ll see tax cutting at the state and local level since they have balanced budget requirements.
- You are more likely to see increased tax rates.
- Revenue is being adversely affected, both at the state and at the local leve. Some of what is happening in terms of commercial real estate will show up and lower assessments, and property tax revenues will take a hit.