My NYC property taxes went up 6% (Pike: neighborhoods, schools, property tax)

[martinjsxx]

Originally Posted by SeventhFloor

How much in property taxes do you think you should be paying?

Less than someone whose home is worth twice as much as mine.

[SeventhFloor]

Originally Posted by martinjsxx

Less than someone whose home is worth twice as much as mine.

I agree, that seems fair. Can you put up an example?

[SeventhFloor]

Originally Posted by mathjak107

unlike long island and most of the state , nyc has an income tax ….so real estate taxes should be a fraction of most other localities

Yonkers has city income tax too, I wonder what their property taxes are in comparison
Do you think all cities need an income tax?

[BBMW]

Where do you live, and what's happened to property values in the last year? And if there was inflation last year that pumped up your property value, that would be reflected in this years assessment.

Originally Posted by martinjsxx

They say inflation is down to around 3% but NYC raised my already high property taxes by 6%. No politician does anything about it or addresses tax inequality where million dollar properties in certain parts of the city get taxed much less than middle class homes worth well under a million dollars.

[mathjak107]

Originally Posted by SeventhFloor

Yonkers has city income tax too, I wonder what their property taxes are in comparison
Do you think all cities need an income tax?

most cities have no income tax

[SeventhFloor]

Originally Posted by mathjak107

most cities have no income tax

So why do we need one

[blanketyblank]

Originally Posted by SeventhFloor

Yonkers has city income tax too, I wonder what their property taxes are in comparison
Do you think all cities need an income tax?

There are entire states with no income tax.

[blanketyblank]

Originally Posted by SeventhFloor

So why do we need one

Because a lot of people in this city are unproductive moochers who are supported by city tax revenues.

[martinjsxx]

Originally Posted by SeventhFloor

I agree, that seems fair. Can you put up an example?

Bill de Blasio's home in Park Slope is worth $1,000,000 MORE than my home and his taxes are $2,000 a year less than mine. The $1 million isn't the market value of his home, it's how much more his home is worth than mine. Information taken from NYC property tax records as of January 2024.

[martinjsxx]

Originally Posted by BBMW

Where do you live, and what's happened to property values in the last year? And if there was inflation last year that pumped up your property value, that would be reflected in this years assessment.

Increased taxes weren't due to increases in property value. The market value of my home went down from last year but the city's property tax system allows them to increased assessed value up to 6% a year which they did.