A good article in the WSJ (Entrepreneurs Take On Tax Man) about how aggressive many small business owners are being about disputing their property tax assessments. I firmly believe that everyone should pay their proper taxes, but I also recognize that many of the assessments of property are based on valuations from the real estate bubble time that are simply not realistic.
Disputing inflated assessment valuations is exactly what the ‘scrappy’ types of operators who will thrive in this environment are doing. When times are tough, the smart hotel operators pay attention to the details. There are not many big advantages to be had, so you have to look for small advantages or opportunities and pursue them. A little bit here and there can make a huge difference in times like these that separate the men from the boys.