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Oh this is going to be so good! Watching uber left, liberal, progressive democrats in Albany and NYC government squirm and twist themselves as they try to come up with a solution that doesn't tick off their base.
Matter now returns to lower courts for legal action to move towards trial. This unless NYS and or NYC make a move to solve issue themselves. Good luck with that.
So, the option is to lower property taxes on minority owned property to meet parity with non minority owned property taxes ?
or
Raise property taxes on non minority owned property to meet parity with minority owned property taxes ?
Once the NYC vs Trump Properties despicable ruling made headlines
I posted an op asying this is not going to be good for New Yorkers.
I believe The city is in trouble. Real Financial trouble. It will find excuses.
Only choice is a money grab. This is just the tip of the iceberg.
You better be dirt poor or beyond wealthy if you want to live in NYC.
THey are coming for your wallets and purses.
Man oh man..............this is not gonna be good......................Thanks Letita.
So, the option is to lower property taxes on minority owned property to meet parity with non minority owned property taxes ?
or
Raise property taxes on non minority owned property to meet parity with minority owned property taxes ?
Once the NYC vs Trump Properties despicable ruling made headlines
I posted an op asying this is not going to be good for New Yorkers.
I believe The city is in trouble. Real Financial trouble. It will find excuses.
Only choice is a money grab. This is just the tip of the iceberg.
You better be dirt poor or beyond wealthy if you want to live in NYC.
THey are coming for your wallets and purses.
Man oh man..............this is not gonna be good......................Thanks Letita.
First off majority of New Yorkers rent. What competitively few homeowners there are can be mostly found on SI (largest percentage of homeowners, fewest multi-family), along with parts of Brooklyn, Queens and small areas of the Bronx.
Off the bat if condo and co-ops are charged property taxes for what they are, and as they are elsewhere in country; owned property not current rental status, taxes are going to go up.
For 1-3 family homeowners it would be a mixed bag depending upon how things are done.
One easy way would be to eliminate the tax "cap" put in place to supposedly aid in keeping middle class homeowners from fleeing city. Albany and city hall cooked that scheme up back in 1970's or so when white flight was in full steam.
Problem is correcting or otherwise "fixing" NYC's archaic, byzantine and complicated property tax system is bound to create winners and losers. No doubt about it, someone is gong to pay more in taxes, while someone else will pay less.
Complicating matters is city receives about 40% to nearly 50% (more or less) of annual revenue from property taxes. Thus any fix would have to be revenue neutral, if not city will have to make up any loss somehow. That usually means raising taxes elsewhere because God forbid city cuts back some of the high living and spending it does.
First off majority of New Yorkers rent. What competitively few homeowners there are can be mostly found on SI (largest percentage of homeowners, fewest multi-family), along with parts of Brooklyn, Queens and small areas of the Bronx.
Off the bat if condo and co-ops are charged property taxes for what they are, and as they are elsewhere in country; owned property not current rental status, taxes are going to go up.
For 1-3 family homeowners it would be a mixed bag depending upon how things are done.
One easy way would be to eliminate the tax "cap" put in place to supposedly aid in keeping middle class homeowners from fleeing city. Albany and city hall cooked that scheme up back in 1970's or so when white flight was in full steam.
The best way is to just eliminate the bs "assessed value", and go with % of market rate, like it is done everywhere else outside of NYC. People should just pay the property tax based on the value of the property and let the chips fall where they may.
Very clear, transparent, and straight forward.
Based on the opaque property tax formulas they use, you can't even properly challange them and dispute.
The property tax code and system is corrupt all across the country. Property tax should be completely unconstitutional. Basically you don't own your land because the municipality owns it and you're simply paying the right to live on it. So they can levy what they believe the tax to take from you and it has nothing to do with giving you services since those are all taxed as well. That's why home ownership is a temporary thing you never own the land if you can't afford to keep paying the tax expected on it unless it's on Indian reserved land.
The property tax code and system is corrupt all across the country. Property tax should be completely unconstitutional. Basically you don't own your land because the municipality owns it and you're simply paying the right to live on it. So they can levy what they believe the tax to take from you and it has nothing to do with giving you services since those are all taxed as well. That's why home ownership is a temporary thing you never own the land if you can't afford to keep paying the tax expected on it unless it's on Indian reserved land.
No, for real?
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
The property tax code and system is corrupt all across the country. Property tax should be completely unconstitutional. Basically you don't own your land because the municipality owns it and you're simply paying the right to live on it. So they can levy what they believe the tax to take from you and it has nothing to do with giving you services since those are all taxed as well. That's why home ownership is a temporary thing you never own the land if you can't afford to keep paying the tax expected on it unless it's on Indian reserved land.
That is why property taxes do not exist on the federal level.
Income tax was also supposed to not exist on the federal level, but during American communist phase of first half of the 20th century, culminating with FDR, the socialists snuck it in 1913. Taxation on labor is deeply immoral. In its extreme, 100% income tax is slavery. You do not own your labor.
Income and property taxes are antithesis to the liberal Enlightenment principles, unlike things like user's taxes.
That is why property taxes do not exist on the federal level.
Income tax was also supposed to not exist on the federal level, but during American communist phase of first half of the 20th century, culminating with FDR, the socialists snuck it in 1913. Taxation on labor is deeply immoral. In its extreme, 100% income tax is slavery. You do not own your labor.
Income and property taxes are antithesis to the liberal Enlightenment principles, unlike things like user's taxes.
Ice cold
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Why do people say this is the land of the free? Atleast in Russia or China they stated that you don't own the land but you buy the right to live there and at any time the government has the authority to vacate your right. The people own the land in communism and the right to privately live and chose where to live is what you pay for not a deed.
Why do people say this is the land of the free? Atleast in Russia or China they stated that you don't own the land but you buy the right to live there and at any time the government has the authority to vacate your right. The people own the land in communism and the right to privately live and chose where to live is what you pay for not a deed.
Property taxes makes people out to live on fiefs.
See when I say things like this you guys call me every name in the book
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
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