taxes

Someone should start a frequently asked questions section or a primer to handle 101 type questions.

Why don't you answer the question instead Columbus?

I am pretty RE and tax savvy (search for my answers to questions about AMT and mortgage interest deductions for example) but this one has me puzzled.

Same line, lower floor has higher RE tax.
Are there any other differences melisloan?

Wonder how the city manages to separately assess all those thousands of condos. If they do. I think some condos negotiate on behalf of all units.

Could it be a typo? If you are just basing the info off of a web listing, then definitely call the broker and ask them to double-check.

Typically, the tax assessment would be progressively higher as you go up in the same line to account for superior views, light, and property value. In this case, the lower floor apartment must have some other beneficial feature (e.g., private outdoor space) to justify the higher assessment. The relationship between unit level real estate taxes within the same condo building should correspond exactly with the condo units percentage ownership in the building. Alternatively, you have bad information from the broker, the City made a mistake, or you are comparing two different points in time (NYC real estate taxes increased about 7% effective January 2009).

see my posts here: http://www.streeteasy.com/nyc/talk/discussion/10573-mayor-bloomberg-says-no-to-additional-property-tax-hikes

30yrs, thanks much. That explains it all.

The two apts. are exactly the same. The higher taxed apt. is on 12th floor. the lower taxed is on 15th.Broker on 12 confirmed taxes are correct. I am wondering if there are a lot of apts. in New York that are incorrectly assessed.

What building is this?

Oh, I just realized we're not talking new construction because you said "broker on 12". The answer is one of the brokers has the wrong info. Most people don't know what their real taxes are because they get paid thru their mortgage servicer.