Denver’s Escalating Property Values Hurting Small Businesses
An article published by the Denver Channel highlights Denver’s increasing property values and the negative impact on small businesses in the state.
According to the Denver Assessor’s Office the average commercial property shot up 20 to 25 percent. Some local shops have seen their property taxes double in addition to their rents increasing.
At one art gallery on South Gaylord St. the property taxes went up $400 a month, and the rent went up $600 a month, forcing the owners to cut expenses, expand store hours, and increase prices.