According to Drew Grossklaus, East Cooper Broker-in-Charge, “This new compromise is a welcoming sight to both commercial real estate, second home, and investment properties. It is important that we look at the stimulus this package will provide versus the lost tax money. Giving a break to commercial properties creates more business and allows owners of multiple-unit commercial properties to pass on savings to possible tenants. This all helps to create jobs, sales tax revenue, and gives small businesses a better opportunity to succeed.”
“Since Charleston continues to be such a destination, this will only help to sway those looking for second homes. With the recent downturn in the economy, this segment has been greatly reduced, and the point-of-sale property tax change will give Realtors an opportunity to give another reason to entice this buyer to Charleston.”
To read this article in full, please visit the Charleston Regional Business Journal site.
Drew Grossklaus, (843) 375-4800, [email protected]
