Fast Fact About Property Tax Reform

Fact: 
In New York City tax collections rise, even when property values fall, because of the assesment practices.
Fact Background: 

In New York City the system of property assesment is manipulated and changed so that the city can ensure constantly rising tax collections. Even with property values dropping 38% from 2007 - 2010, the tax assessments continued to climb.

http://www.observer.com/2011/11/new-york-city-the-new-real-estate-tax-capital-of-the-united-states/2/

 

 

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