While the city’s economy is showing signs of life, the real estate community knows all too well that property values remain far below what they were at the height of the market more than two years ago. It’s estimated that on a per-square-foot basis, property values have fallen by 38 percent compared with the pre-crash Read More
Here’s an interactive map of New York’s current property tax assessments, according to PropertyShark. The higher the assessed value, the redder the map; the lower, the bluer. You get the picture: Manhattan drips red and the outer outer-boroughs feel a little blue (perhaps an inverse of our politics?).
This map shows Read More
From the Journal‘s Jennifer Levitz this morning: "Support for property-tax rollbacks is building from Arizona to New York, fueled by angry homeowners in some locales who are seeing rising tax bills despite plunging home prices. … New York City boosted property taxes by 7% effective Jan. 1, and other towns in the state Read More
The deal brokered last night to repeal a property tax cut and increase the ‘bed' tax in exchange for a quick mailing of already-budgeted rebate checks has been approved by the City Council, but the votes were off.
The property tax increase passed 33 to 18, but the increase in the hotel room Read More
Mayor Bloomberg wants to immediately raise the property tax rate by 7 percent, rescinding a cut made last year, as the city projects a $4 billion budget shortfall over the next year and a half.
The announcement came at today’s noon mid-year budget modification annoucement, where the mayor laid out proposals for cuts, including slashing Read More
In more flush times, Mayor Bloomberg took two separate high-profile steps related to property taxes in the city: he lowered the tax rate by 7 percent, and he gave homeowners citywide a $400 rebate.
Now with the economic storm clouds rolling in, Mr. Bloomberg has repeatedly suggested in the past week that he might eliminate Read More
A new poll concludes that nearly three in four New York State residents support Governor Paterson’s long-shot plan to cap property taxes used to fund local schools. Read More
Mayor Bloomberg during his weekly radio show this morning talked about what he told a U.S. Senate committee on Thursday regarding the recent federal stimulus package. Mr. Bloomberg was testifying with the mayors of Jacksonville, Fla., Atlanta, and Kansas City, Mo., about the need for federal funds for infrastructure improvements.
I understand why we Read More
Here’s Governor Paterson on WHMT’s New York Now talking about his plan to cap school property taxes. The show airs Friday and Sunday.
Hat tip: Azi Paybarah at The Politicker. Read More
Governor Spitzer talked this morning about controlling rising property taxes during the annual meeting of the Association of Towns at the Midtown Hilton. The Observer‘s Azi Paybarah was there and has a report on our brother blog The Politicker.
"This year," the Governor said, "we will continue with Medicaid cuts. We will continue to Read More