Posted by Leonard Steinberg on January 16th, 2014

The new tax rolls came out and SHOCKINGLY the disparities are on clear display: you see, in New York City we are all unequal. Some get breaks and other have to pay for it. This is Mayor de Balsio’s TALE OF TWO CITIES, PART 2, the other tale where the players switch roles.

While the average tax bill for co-ops is going up 5.5%, to $6,247, condo owners are getting whacked with a 7.4 % hike averaging $7,987……note the average condo pays about 28% more in real estate taxes than co-ops! But it gets worse…..The real estate tax rise for Condo owners will be almost DOUBLE that of single family homes!

The average owner of a single-family home is just not the same you see…..they only get a 3.8% increase, close to HALF that of condo owners….with an average of about $4,598, once the Finance Department finalizes the assessments and the bills for fiscal 2015 go out in July.

Owners of one- and two-family homes have until March 17 to challenge their assessments. Others have until March 3. The circus keeps on going. The TALE OF TWO CITIES repeats itself under Mayor de Blasio’s watch….