Everybody wants tax reform as long as that means someone else pays more.
Don’t Price Us Out, New Yorkers Plead Amid Property Tax Overhaul
Residents, and their political representatives, decried in a series of public hearings how the city’s arcane property tax system has unfairly burdened low- and moderate income workers, former civil servants, seniors and retirees living on fixed income, teachers, and landlords. Those residents have watched their property taxes increase at a far more rapid clip then the wealthy people living in luxury buildings across the street in their own neighborhoods, as the values of their homes grew exponentially and their incomes barely budged.
New York City residents and politicians warned in a series of recent hearings that a proposal to assess property taxes based on 100% of their home’s market value would unfairly burden low and moderate-income workers, seniors, and retirees living on fixed income, and others.