Will Tenants Join Landlords to Fight Property Taxes?

Via the NY Observer:  There are proposals afoot to change the NY State property tax laws.  Currently, the property tax burden is not equally shared among all residents of NYC and it is single family home owners that pay the least relative to the amount of space they occupy. Owners of multi-family buildings would like to make tenants aware of the percentage of their rent that goes toward property taxes, “maybe we ought to insist to our owners, when they send their rent bill to tenants, state, like ConEd does, only in much bolder print, that 20 percent of your rent is going to the City of New York in taxes” and see if they can possibly enlist tenants in the fight for a more equitable tax structure.  I do worry that media coverage of these issues is a tricky thing and I would urge you to do your own research about the reality of taxation in the city before drawing firm conclusions.

See this post for earlier coverage of the tax burdens of renters

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About Me

Michelle Erfer is a licensed Real Estate Salesperson in New York City.
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