How remote work could impact US city revenues

On the back of the remote work revolution, US downtowns have seen reduced office-led footfall and rising crime rates. Cities will need to be proactive to drive conversion to alternative use and to find ways to regenerate what were often thriving areas only a few years ago. Until conversion stacks up more consistently, our back of the envelope calculations suggest that NYC and Chicago stand to see the largest negative impact in lower commercial property tax revenues.