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I think basically high property taxes are basically an indirect income tax since the assumption is if you can afford to live in an area with hot real estate you should be able to pay more. Nyc should cool off on property taxes or remove the exemptions from paying property taxes that luxury buildings get. Nyc city and state taxes are already high
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The final rule is more flexible than the original proposal; New owners can correct inherited errors but must document that they paid the taxes to get a refund. Shortened time frame for corrections. Taxpayers could correct errors going back six years.
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New york city's high property taxes arent the result of discrimination; Nyc's property taxes are so unjust, esoteric and opaque that it feels intentional but only the state legislature in albany can make changes and bring fairness to the system. New york citys convoluted property tax system, now exactly 50 years old, overtaxes large multifamily buildings, making it harder to build enough apartments to solve the citys housing crisis.
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