Top-of-the-line office buildings are meant to impress, but because of their size, location and prestige, these buildings commonly come with a hefty property tax.
With this year’s tax filing season behind us, PropertyShark decided to rank the Top 100 office properties that had the highest associated taxes in 2021, and the findings may or may not come as a shock.
Unsurprisingly, Manhattan dominated the list with 82 of the 100 properties with the highest taxes. But the remaining entries? Chicago took the cake, along with California and Washington, D.C.
With $75.3 million in taxes in 2021, Midtown’s General Motors Building was the property that paid the most taxes last year — a title it also received several years ago, according to PropertyShark. Situated on an approximately 84,000-square-foot lot and totaling 1.7 million square feet of office space, the GM building is a product of the skyscraper boom of the 1960s and ‘70s, along with the MetLife building, No. 2 on PropertyShark’s list.
But enough about New York. Chicago was the frontrunner for highest taxed buildings outside of NYC with 15 buildings to make the list.
The Willis Tower ranked No. 12, with a $43 million tax bill last year.
Waterfront tower 300 North LaSalle was another to make the list.ettling at No. 33 in the Top 100, with a $26 million tax bill in 2021.
Others to make the Top 100 list include:
- 433 W. Van Buren St..: $24.8 million
- One Prudential Plaza: $24.2 million
- 300 East Randolph: $24 million
- 150 North Riverside: $23.7 million
- UBS Tower: $23.5 million
- Aon Center: $22.1 million
- Accenture Tower: $20.2 million
- The Franklin: $19.9 million
- Chase Tower: $17.9 million
- River Point: $17.9 million
- 70 West Madison: $15.8 million
- 353 North Clark: $15 million
The Field Building, additionally, owed $13.7 million in taxes last year while also being the oldest property outside of NYC with its 1934 completion.
That said, 15 of 100 properties on the list were completed in 2000 or later, six being in Chicago.