Andrew Keller’s Post

Learn about a $2 million investment by the county in local #workforce development in the latest issue of our newsletter!

Read the latest District 12 eNewsletter.

View the full Spotlight with the link below!

Your support today is so powerful. Review the stats on 988 and Contra Costa County. https://bit.ly/4gdpPI9 #988Day

Navigating the Real Commercial Real Estate Crisis: Beyond the Common Level Ratio and Delayed County-Wide Reassessment Myopic Blame Game: The ongoing crescendo of skepticism of the propriety of Allegheny County Tax Assessments and blame games sparked by Michael J. Suley's LinkedIn posts concerning the state of Allegheny County’s Assessment failures, culminating with his link to the Post-Gazette's editorial on the county property assessment system, it's evident that too many of the County’s skeptics are unaware of a crucial piece of the tax assessment puzzle. The editorial posits that our public finances are at risk due to the current property assessment system, yet it misses the mark on the root cause of the issue at hand. The crux of the matter isn't merely the frequency of reassessments or the delayed application of the proper Common Level Ratio (CLR) as an explanation of the “root cause” are overly simplistic and flawed explanations of the current downward spiral of commercial assessments. Instead, the real story unfolding within the commercial real estate (CRE) sector is akin to a "doom loop" of diminishing assessed values. This isn't a superficial dip that can be corrected with procedural adjustments. The downward spiral we're witnessing is a reflection of actual, tangible declines in property values. This phenomenon isn't an artifact of assessment practices but a manifestation of a destabilized commercial real estate asset base. The intersection of COVID-19's enduring impacts and the historical backdrop of unsustainably low interest rates has led to a significant shake-up in the market. These factors have combined to exert downward pressure on values, casting a long shadow over the future of CRE. In this context, simply tweaking the CLR won't arrest the decline. The issue is deeper, tied to market dynamics and investor sentiment, which have shifted dramatically in the wake of the pandemic and economic policy decisions. To navigate this crisis, stakeholders must look beyond surface-level solutions and engage with the underlying economic shifts that are reshaping the CRE landscape. It's time for a comprehensive strategy that addresses these fundamental challenges, embracing forward-thinking approaches to valuation, investment, and development in the CRE sector. As we chart a course through these turbulent waters, let's engage in a constructive dialogue about sustainable solutions that reflect the realities of the market. The future of our commercial real estate assets—and by extension, our public finances—depends on our ability to adapt and innovate in response to these unprecedented challenges.

Read the September issue of Better Together and learn all about how the Chamber is getting ready for fall in Sheboygan County! ➡️ https://lnkd.in/gac5pk_X

State Conference Agenda, Resolution Spotlight, and more in your next issue of County Progress!

How well do you know your county? Comment below what you think and share to see if your friends know the right answer!

April is National County Government Month. Human Services is a vital part of what Benton County does. And very few things demonstrated that need as well as the pandemic. Learn more about Human Services here: https://lnkd.in/gk7uBn4F #bentoncountywa #NationalCountyGovernmentMonth

If you only read one thing about Multnomah County, this Oregonian investigation is it. It helps explain why Multnomah County at its core is one of the most broken local governments in Oregon. Click on this link: https://lnkd.in/gs2aAmSd