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What i don't get is property tax here in nyc. I hope to buy next year when my lease is up. A recent court ruling may force changes.
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We propose reforms guided by the principles that any property tax system should be fair, simple, and transparent. Depending on what kind of property you own now and what reforms ultimately are adopted, property tax reform could lower or raise your taxes. The real estate industry is suing the city and state. The organization alleges its an unfair system with an inequitable and discriminatory disparate impact on certain protected classes of new york city property owners.
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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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