NYC Property Taxes Favor Whites & Wealthy Legal Action Claims

[bumblebyz]

Originally Posted by Kefir King

That gives rise to the situation like rent control where somebody who bought a house in 1920 is paying $11 in property tax.


Fairness dictates that everybody pays exactly the same percentage tax on the market value of his home. (So called, assessed valuation is a tax avoidance scam.)

No one pays that's little. There's a cap on the increases, but it doesn't mean the taxes don't increase. Also for market rate rentals I think they should remove or up the cap to make it fairer. For rent controlled properties the cap should stay in place.

And totally removing the cap is not fairness. How is it fair for an old lady who brought her home in the ghettos of park slope and then wealthy white people suddenly wanted to move there. Why should she be taxed out of her home for things beyond her control. On the other hand if that property is a multi family with market rate rents then the cap definitely needs to be higher.

[BugsyPal]

Just in case some of you did not know there are two parts to property taxes; the tax itself and the assessed value.


NYC has not raised rates for residential RE since Bloomberg IIRC. What has gone up and continues is the assessed value. This is something mayor has control over.


In any case what you have are situations where rates have not been raised, but never the less your tax bill goes up because property is worth more.


https://commercialobserver.com/2016/...axes-shall-we/

[NYer23]

Originally Posted by bumblebyz

Agree on everything except the periodic adjustment. I think the adjustment should only take place if the property changes hands and the 20% 5 year cap should be removed for market rate rentals e.g. two family and up homes. You never want to get into a situation where you're taxing people out of their homes.

Your policy is regressive as it favors more wealthy people who can afford one family unit (mansion style one family homes will receive preferential treatment under your policy). Poor/middle class will apply for one family unit and make illegal conversions in order to afford the purchase price on a one family unit. The government can't even enforce illegal basement rental, yet you expect them to manage more.

[bumblebyz]

Originally Posted by NYer23

Your policy is regressive as it favors more wealthy people who can afford one family unit (mansion style one family homes will receive preferential treatment under your policy). Poor/middle class will apply for one family unit and make illegal conversions in order to afford the purchase price on a one family unit. The government can't even enforce illegal basement rental, yet you expect them to manage more.

The majority of homes in SE Queens are single family and by no means are they wealthy. And illegal conversions are a totally different issue because they affect multi family units just as much if not more (e.g Western Queens vs Eastern Queens). So to the extent that people using illegal conversions to take advantage of the single unit cap, more people will take advantage of the illegal conversions in multi unit homes. Another alternative if multi unit owners want a lower cap is if they voluntarily sign up to become a rent controlled unit. That way if they're aren't collecting market rate rent then they shouldn't pay market rate property tax. And like the single unit properties with the cap everyone is protected from being priced out either via tax or something else.