What do today’s trending topics online suggest could be impacting your property taxes in the near future?
Stock Market
The stock market was trending on X and in Google searches after the Japanese market saw the biggest declines since 1987.
That Black Monday kicked off a global market decline. Terms like ‘Great Depression’ also began trending again.
A major market correction has been coming for a long time. That can be particularly impactful for places like NY, where so much money, and so many jobs, and lifestyles rely on the stock market.
Another major downturn could easily bring down property prices, and in turn help more local property owners get some relief on their tax bills.
Kamala Harris
The presumptive democratic party nominee for the upcoming presidential election has certainly driven attention online too.
Some fear she will be bad for the economy. We just won’t know until after the election. Though if the past four years of Bidenomics have been good for you and your finances, you may have nothing to worry about.
If we can expect more of the same in her next term in the white house, then we may expect even higher property prices, and higher property taxes to come.
Bitcoin Price
Searches for Bitcoin Price rose 200% on Monday. Along with the stock market, bitcoin saw a big drop this week. Falling from almost $70k to just $55k.
Bitcoin has sadly proven not to be a shelter to be relied on during stock market declines. Which could drive more investment into physical real estate. Which in turn could drive up property tax assessment values.
Tropical Storm Debby Hurricane
We’ve still got a long way to go in this year’s Atlantic storm season. One which has been predicted to be far more active than normal.
We all know the pain that damage to homes and interruption to work storms can bring.
Remember, if your home is severely damaged and devalued, you should also be challenging and getting your property tax bill reduced.
California COVID Surge
Searches for California COVID Surge were up 900% today. Many individuals throughout the Southeast and Midwest have been getting COVID again too.
Many Americans have been anticipating a new outbreak before the election. Any new lockdowns could mean more upward pressure on property prices and taxes. Just as we saw in 2020.
WWIII
Terms like Iran Attack Israel and WWIII have also been trending. On the bright side, in a nuclear world war three event, property taxes will probably be the last thing you are worried about if you like in NY, and your property tax assessment is likely to go down dramatically.
If you can’t hold out that long for a financial break, be sure to get in touch with us for help appealing your annual property tax bill.