coop vs condo taxes

I don't *know" this (as in, don't have data) but I believe that coops are generally under-taxed compared to condos. My impression is that this is largely due to age: nearly all of New Development since 1990 has been condo, not coop, so they started with a higher tax assessment from the get-go. I suspect that it also has to do with fighting City Hall: many coops protest *every* reassessment, so eventually win reductions when the city compromises; I doubt that many individual condo owners do the same.

Proving (or disproving) this should be do-able but cumbersome.

I believe there were articles about the co-ops near central park being charged less than the new condos further away from the park. I'm sure you get find this type of info thru NYT or Google.

New York City rewards older owners and buildings. Buildings are taxed either at 6% or 45% of assessed value. The assessed value itself doesn't rise as fast as the market value. So for a building that hasn't changed in use or occupancy in the last 50 years, taxes can be ridiculously low. Recent buildings or conversions have an assessed value closer to their market value, and condos are taxed at 45%; so you can figure that a condo built or converted in the last 10 years could easily pay 6 to 10 times as much taxes as an established coop from the 60's.

sounds fair and illegal