New York, NY - Property Tax Rising Again
New York, NY - City Council voted yesterday to increase property taxes. The $64 million citywide increase will cost the average single-family homeowner an extra $66 for the fiscal year that ends June 30.
Tax rates for the four property classes are adjusted yearly to comply with state-mandated adjustments of the "share" of taxes imposed on each category.
By law, the Council could have increased the tax share for Class 1 properties (one-, two- and three-family homes) by as much as 5%. Instead, the Council limited the increase to 2% by increasing the tax bite on Class 3 (utilities) and Class 4 (commercial) properties. The taxes on Class 2 properties will go up as well, co-ops by an average of $114 and condos by $207.
posted by VOS IZ NEIAS @ 11/30/2006 07:31:00 PM
1 Comments:
At 8:39 PM,
Anonymous said…
As long I'm getting the up to $400 rebate, what do I care if my tax rises with over $1000, We still remember by the 05 election "mike Bloomberg gave a rebate for every house owner (but didn't mention that that he raise taxes with 18%) Mike for President.
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