Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
City hall doesn't have to raise tax rates, increased assessed values do the dirty work for them. So anyone who owns and thinks hard times caused by pandemic ought to catch a break with property taxes, think on..
Politicians don't want to look bad so they let
Assessments raise home values and accompanying taxes.
Home owners on fixed incomes moved to sell.
Once homes are sold city makes an additional killing on the sale average " 50K -100K +"
based on current home prices $500,000 to $1,000,000 plus.
Houses eventually become to expensive to sell , prices drop, assessments drop, taxes rise.
Except taxes drop and rise unequally across neighborhoods. That's another story.
It's the game of hot potato.
Play it long enough and everybody gets burned.
Gotta love people who brag about their $million dollar home but cry poverty when its time for a re-assessment of valuation for tax purposes.
This was Donald Trump's strong suit, to the point of FRAUD.
Am not going to dignify certain ludicrous comments with a response.
OTOH unless things change with NYS and NYC fiscal projections if even half the bad things come true a whole lot of people are going to get smiles wiped off their faces.
Value of NYC commercial real estate is dropping. Since that is where NYC and NYS get good part of funds to spend on all the free stuff they give away in terms of social spending sooner or later something will have to give.
What's that you say? Simply raise taxes? Good luck with that; people are already bailing out of NYC/NYS, raising taxes will only turn that rush into a stampede.
My house’s property value went down $37,000 but the assessed value went up. It would have went up more if there wasn’t a cap so assessed value can increase even if the property value goes down.
My house’s property value went down $37,000 but the assessed value went up. It would have went up more if there wasn’t a cap so assessed value can increase even if the property value goes down.
How do you know your property value "went down by $37,000?"
I knew when that couple of hundred " so called gift " we received this past year from Governor/Mayor was
going to have to be paid back with interest..........
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
