Posted by Leonard Steinberg of Urban Compass on January 16th, 2015 As New York City tax coffers swell to record-level surpluses, it was announced that real estate taxes are about to rise dramatically……of course with a characteristically un-American sense of un-equalness that has become the hallmark of our messed up New York real estate tax… [Read More]
REAL ESTATE TAX LAWSUIT: DEBLASIO’S PARK SLOPE PAYS LOWEST TAX
Posted by Leonard Steinberg on February 27th, 2014 In this morning’s Wall Street Journal, Josh Barbanel writes about a class-action lawsuit launched posing a constitutional challenge to New York City’s complicated property-tax system, a formula that has mystified skyscraper owners and renters for a generation. http://online.wsj.com/news/articles/SB10001424052702303801304579407651052464532?mod=WSJ_NY_MIDDLETopStories&mg=reno64-wsj It is charged that the system unfairly affects blacks and… [Read More]
REAL ESTATE TAX ROBBERY: THE MOST CORRUPT TAX SYTEM IN THE WORLD?
Posted by Leonard Steinberg on February 27th, 2013 The overly corrupted, inequitable real estate structure of New York reveals further evidence now to showcase just how bad the situation is: Did you know that Class 1 (single family) properties in Manhattan have gone up over 37% since 08 yet Brooklyn’s Class 1 properties increased only slightly since 08,… [Read More]
ENCOURAGING SIGNS? IS LUXURY MANHATTAN REAL ESTATE ‘HOUSING’?
Today, reports came out on home groundbreaking. (Am I the only one annoyed at how figures are constantly ‘revised’?) So December’s figures were slightly inaccurate….why? And why the month-by-month-drama-queen reporting? I am a firm believer in watching pricing on a month by month basis, but it ceases to amaze me how many people formulate world-shattering conclusions from… [Read More]