In addition to rising food and fuel prices, New Yorkers are being hit by rising property taxes. The average property tax in the Big Apples is expected to go up by $171 this year.
The rise in property taxes is expected to be higher in Manhattan and lower in the Bronx. Behind the increase in the real property tax are rising assessments and a complex city taxation system.
Property taxes comprise the largest revenue source for New York City. This year, property taxes are expected to contribute $13.78 billion to city coffers.
The average annual real property taxes in the city range from $2,944 to $3,115 for one- to three-family homes. Manhattan’s single family units’ realty taxes range from $24,188 to $26,114 a year.
Meanwhile, New York Gov. David Paterson and new Senate Majority Leader Dean Skelos promised to prepare a property tax relief package for residents of New York City and those living across the state.
(Source: All Headlines News – AHN)
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2 Responses
Didn’t New York officially have a surplus, or was it just some rhetoric from Mr Bloomberg????????
you’re all fools!
bloomberg raised property taxes as soon as he got in by 18%, then makes a big stink that he’s giving back 5% (of the increase, not 5% of the whole) with his STAR pgm!
and everyone swallows this garbage