New York City New York City

NEW YORK CITY—The Cushman & Wakefield March 2018 “Tax Reform in High SALT States” report focuses on effects of the Tax Cuts and Jobs Act in New York and California. Political leaders from states with high state and local taxes have expressed deep concerns. However, the report concludes the reform overall will reduce taxes even in those states. States with already low taxes such as Florida and Texas will get even more of a tax break.

“Our research is clear: the overall economies and commercial real estate outlooks of both high- and low-tax states and regions will benefit from tax reform,” says David Bitner, head of capital markets research, Cushman & Wakefield. “And while the legislation will likely have little impact on the vast majority of housing markets, we know that the impact on higher-income, higher-tax markets—like most of the major metro areas in California and in the region surrounding New York City—could be significant.”

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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