According to a survey on state and local taxes conducted by accounting firm Coopers & Lybrand, property taxes rank second only to income taxes in the burden they place on corporate America. Even worse, 59% of the 375 businesses surveyed said their real-estate property taxes had risen during the past two to three years. But here's a bright spot: many of the businesses surveyed reported success in challenging their property-tax assessments.

Have you challenged your real-estate property-tax assessments?

Yes 77% No 23%

How successful do you think that strategy is?

Very successful 35%

Somewhat successful 53%

Not sure 4%

Not successful 8%

Source: "State and Local Taxes: The Burden Grows," Coopers & Lybrand, August 1993.

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