A class-action lawsuit charges that New York City’s property-tax system is discriminatory. The validity of these claims remains to be determined, but there is no question that the assessment of property tax in New York is confusing, irrational, and unfair. Read More.
De Blasio has released his budget for the next fiscal year, and in keeping with his previous budgets, city spending continues to rise. He claims that he has socked away substantial rainy-day money, but any financial downturn would erase these reserves quickly. Read More.
The tax-abatement program formerly known as 421-a has been resurrected in the new state budget as the “Affordable New York Housing Program,” which reduces property taxes on buildings that include subsidized or “affordable” units for lower-income residents. Read More.