Court rejects Constitutional challenge to NYC property tax calculation

[David Goldsmith]

Group Wants Faster Fix to NYC’s Unfair Property Taxes, Court Said No

www.mansionglobal.com

"A court decision this week marks a setback for advocates who argue that the city under-taxes luxury homes at the expense of minorities

A New York state appellate court judge on Thursday dismissed a lawsuit that argued the city’s property tax regime unlawfully discriminated against minority homeowners by taxing low-income areas where they live at higher rates compared to affluent, predominantly white, neighborhoods.

 

[John Walkup]

Next step is the State Legislature, who may be a bit more sympathetic to the argument.

 

[David Goldsmith]

I think it depends on how the report from the NYC Advisory Commission on Property Tax Reform report

NYC’s ‘opaque and arcane’ property tax system may get major overhaul

Plus, the first cyclist death of 2020—and more intel in today’s New York Minute news roundup

ny.curbed.com

is taken at face value or gets changed after going through some public hearings:

NYC Property Tax Panel Sets Hearings to Air Recommended Changes

A panel weighing changes in New York City’s widely criticized property tax system will hold a series of public hearings starting next month.

news.bloombergtax.com

Based on what they proposed (which I see as rapidly increasing taxes in gentrifying neighborhoods) the people who were most clamoring for change may realize that the results could be hastening turnover because long term owners in those areas won't be able to afford the increases and will be forced to sell.