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In the suburbs people see where their taxes go - so there is slightly less resentment at paying them. In the city, it just disappears down a big hole - and the inequitable system where single house owners can pay less taxes than lower value condos is byzantine and archaic. No one is fixing it - though one group has brought a case in the courts as to the system having a discriminatory impact on minority homeowners. Its the best chance of it ever getting fixed, because the political will is not there. DeBalsio has nothing to do with this - he's able to claim advantage of it, but he did not set this up. Generations of dozy NYC voters allowed these system to be put into place, just like they allowed the NYC school graduation rate to be 55% for decades yet still handed money had over fist to teacher's unions wants, and just like they allowed the NYCHA to descend from a reasonable system into a mess. NYC voters are dingbats, as a rule.
In the suburbs people see where their taxes go - so there is slightly less resentment at paying them. In the city, it just disappears down a big hole - and the inequitable system where single house owners can pay less taxes than lower value condos is byzantine and archaic. No one is fixing it - though one group has brought a case in the courts as to the system having a discriminatory impact on minority homeowners. Its the best chance of it ever getting fixed, because the political will is not there. DeBalsio has nothing to do with this - he's able to claim advantage of it, but he did not set this up. Generations of dozy NYC voters allowed these system to be put into place, just like they allowed the NYC school graduation rate to be 55% for decades yet still handed money had over fist to teacher's unions wants, and just like they allowed the NYCHA to descend from a reasonable system into a mess. NYC voters are dingbats, as a rule.
I agree with most of what you say; however, the last time a court case was used for the sake of fairness for all, it resulted in a quadruple amount of monetary payments for all in water and sewer charges. I'm not keen on paying 4x the amount in property taxes either.
I agree with most of what you say; however, the last time a court case was used for the sake of fairness for all, it resulted in a quadruple amount of monetary payments for all in water and sewer charges. I'm not keen on paying 4x the amount in property taxes either.
Yes - I guess it can get even worse after the courts go in!
nothing is low , but when you take nyc real estate taxes and add in the nyc income tax you are within spitting distance of the more desirable parts of long island and westchester. a quick look at my old house i used to own in kew garden hills shows it is at about 6500 in taxes today .
Property taxes have gone up a lot in 3 or 4 years. I was paying about $6500 a few years ago and now they are approaching $8,000.
many values have gone up too .. one thing about real estate is it is highly neighborhood dependent as well as "wife " dependent ..it does not matter how many homes are for sale. all that would matter is the one my wife wanted ..
when we sold in PA . our home sold for list ..7 years later many homes are for sale now that were up for sale then with no change in price yet they won't sell . taxes are up a lot too on these homes even though they won't sell at these levels .
the city capped taxes in the gentrified area's to keep long time residents from getting hammered because the areas shot up in value so quickly out of no where ..
but it became a double edge sword .
Those property owners hit the jackpot twice. Once for the value of their homes skyrocketing and then for paying property taxes well below even modest priced homes in Queens. The market value (on paper) of homes in my area went up a lot since the recession but no one cared about us getting hammered with tax increases because of it (in addition to higher tax rates).
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