The true cost of WFH - declining building revenue may shift tax liability to homeowners.
As tax appraisals catch up with declining revenues and increasing cap rates, the taxes collected from commercial office buildings will decline. Those shortages, more than likely, will then be passed on to residential homeowners. The I-394 Corridor, the Northwest, and Midway each posted positive absorption. Year to date, the I-394 Corridor, Midway, and the St. Paul CBD are the only submarkets to witness overall positive absorption.