Property taxes set to rise July 1
Started by somewhereelse
about 16 years ago
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Member since: Oct 2009
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Not if you rent.
HAHAHAHA!
Flmao. I hate to break it to home'owners. '. It has and always will be that re taxes in NYC is the backstop for any budget shotfalz.
Assessed values of co-ops and condos up 5%. That's what the article says. I see no mention of tax rates changing (they just increased them a blip recently anyway), so are we assuming that this is it? It's not negligible, but whatever the word is that means just a bit more than negligible, that's what this is. Not so hahaha really, sorry Steve. It'll be equally negligible, but you have to imagine this will pressure some landlords to keep rents a bit higher or not lower them as much to help cover some of this.
Who said anything about rates?
Taxes are based on assessed values and tax rates - makes sense to discuss both parts of the equation, no?
OK, so the entire value is $796bil, about what China purchases in Treasuries every 9 months. Maybe they will just swap them for the Real Estate. Thank God I took Mandarin and freakin love dim sum (especially the ones with a bit of shrimp in them). 哎呀，我們被擰緊.
Oh, I see, you were asking if rates might also increase. Sorry. Don't know.
My landlord's taxes went up. Enjoy!
i don't think my landlord is focusing on this tax increase right now.
aboutready, touche. I think your landlord has a couple bigger fish to fry.
Speaking of taxes, most people's paycheck took a small hit today as well, so it's happening everywhere.
buuls? so does this drop current offer prices?
bjw, that's actually the bigger issue. property taxes are just one aspect of the witches brew of the tax increases that will be needed to fund federal, state and local governments. it will be seen, likely, in every area of taxation.
people will simply have less disposable income. that will affect prices.
aboutready, couldn't agree more. It's too easy to see these things in a vacuum sometimes, when the truth is that it affects everyone - renting, employment, whatever, it's not a haven. This will hurt purchasing power, no doubt.