(WSJ) Big New York Property-Tax Increases on the Horizon

Co-op and condo owners will pay sharply higher property taxes next year, under a preliminary assessment roll released Friday by the Bloomberg administration. The city attributed the rises, due to take effect in July, to higher market values placed on apartment buildings by tax assessors.

Taxes collections are expected to rise by 7.5% for co-op owners, and 9.6% for condo owners across the city, according to a summary report released by the Department of Finance….

Stuart M. Saft, a real-estate lawyer and chairman of the Council of New York Cooperatives and Condominiums, said he “absolutely” attributed the significant increases to city budget pressures, and said city finance officials were looking for ways to maximize city revenues.

Read it all.

print

Posted in * Economics, Politics, City Government, Economy, Housing/Real Estate Market, Politics in General, Taxes, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

3 comments on “(WSJ) Big New York Property-Tax Increases on the Horizon

  1. Statmann says:

    Moving vans: start your engines. Buy moving company stock. Please don’t move to Texas. Statmann

  2. lostdesert says:

    Indeed, Statmann – the liberal left marxist agenda states are dying.

  3. Sick & Tired of Nuance says:

    The capacity for Liberal cognitive dissonance never ceases to amaze me. They seem incapable of making the connection between their votes and the misery they experience due to government overreach, failed social programs, and their lack of physical security because of their “compassionate” catch-and-release of criminals. They cannot seem to grasp that when they opt for higher taxes, they will have LESS money to live on. They just keep curtailing freedom, raising taxes, and borrowing money to spend us all into debt-slavery. I live behind “enemy” lines, in one of the bluest of blue states and it is just amazing to watch the stupidity that passes for education and sophistication as it reaches into virtually all aspects of life and brings misery.

    The Left are like locust, they graze and fatten in the blue states and then move on when the country is bare…bringing their diseased mindset with them. They destroy and then move on and try to make the place they move to like the place that they left!