Wednesday, November 18, 2009

Brace yourselves

Home taxes through the roof

Taxes on the typical single-family home in the cash-strapped Big Apple are going up next year by 8.8 percent, from $3,233 to $3,519.

But if the City Council hadn't acted to protect those homeowners, the increase would have been 14.3 percent, to $3,695, officials said yesterday.

The average co-op faces a 10.3 percent hike, from $4,467 to $4,930.

The Finance Department will be sending out bills soon to reflect higher property assessments during the boom years that are still being phased in.


Anonymous said...

when and where do we start the NEW YORK CITY TEA PARTY ?

22.5 % +8.8% =31.3 % ,since 2002.

when will the mayor and n.y.c.council stop wasting the money on "green" playground to park conversions ,that are not needed and unused. eg. P.S. 159 Q, at 205 st./33rd avenue, bayside. it is locked 24/7.

the city council should cut their salaries instead.

PizzaBagel said...

Here's the more exact math, and it's not better:

22.5% x 8.8% = 1.225 x 1.088 = 1.3328 = 33.28%

How do you like that? I thought you would.

Anonymous said...

Fight to lower the property assesment vs comparable sales in your neigborhood to actually lower your tax bill below the levels of the new tax increase.

Anonymous said...

The only way I could feel more betrayed is if I had voted for him like the majority of jerks in this borough!

primadonna said...

22.5% x 8.8% = 1.225 x 1.088 = 1.3328 = 33.28%

hey Pizza

What does that mean, you mathematician you?

Anonymous said...

Fight to lower the property assesment vs comparable sales in your neigborhood to actually lower your tax bill below the levels of the new tax increase.



My assessed property value has indeed, gone down, but the taxes are STILL raised.

How does that even happen?????

Anonymous said...

Congratulations to all you assholes that voted Bloomburg a third term. You wanted him, now you have to pay. Just wait -- the next increase in June will be increases in the water tax. You get the government you deserve. Hope you are all happy!

citationneeded said...

@ primadonna,

the percentages are multiplied because the second increase is an increase on top of the first.

Example: I raise a 100 dollar tv by 20 percent, then by 25 percent:

100 * 1.2 * 1.25 = 150


100 * (1 + .2 + .25) = 145

Anonymous said...

First, Bloomberg should collect all the monies owed to the City by rogue developers such as Tommy Huang. What is the point of doubling fines that he doesn't pay anyway. The City makes no sense. Keep taxing the good citizens to death and aid and abet the culprits.

In addition, the City should impose a tax on all abandoned projects that are closed down for DOB and other agency infractions. If the developer does not clear up outstanding stop work orders and complete the project within a set period of time, hit him with fines that accrue on a daily basis. These unsafe and unsightly abortions should be penalized heavily. Many of these illegal projects also received tax abatements undeservingly.

Impose a law that basically says: Clean up your act or we confiscate your property.

Second, in Bayside, Tommy Huang owes approximately $25,000 on each of three out of four houses he built on a lot that has been shutdown for over two years. The only reason the taxes are being paid on one of the houses is because the mortgage company pays the taxes.

I am told that the City cannot do anything about the back taxes on a house until it adds up to $30,000.

What is wrong with this picture?

PizzaBagel said...

Thanks, citationneeded, for your fine explanation of the math, which I kept brief.

Next lesson -- reciprocals. Anonymous #2 said:

Fight to lower the property assesment vs comparable sales in your neigborhood to actually lower your tax bill below the levels of the new tax increase.

Here's the math for that to be effective:

Assuming a tax increase of 8.8% (1.088, in decimal), then you would want the new assessment to be less than 1/1.088 (approximately 0.919, or 91.9%) of the present assessment.

So if your property is currently assessed at $500,000, try to shoot for 90% of that, or $450,000. Good luck.

Anonymous said...

tommy haung gets away with a shit load.. building dept inspector was here the other day and signed off on a driveway, which i thought wasn't allowed since it pulls directly under a window. big bucks payoff. NYC sucks!! and bloomberg is going to kill it, so i know i didn't vote his troll ass back in. to the one's who did, you got it coming to you, so don't bitch now.

faster340 said...

Hey they need to keep up with Nassau and Suffolk...

Anonymous said...

Bloomberg and you stupid dumbass voters killed Snoopy. Damn you all for not coming out to vote. Damn you all and suffer the consequences. losers.

Anonymous said...

Wasn't the sales tax increase enough? How are we suppose to keep paying out when nothing is coming in. (I mean us...not the corporations, not the city or People are losing jobs, getting pay cuts. How are we suppose to do this??? Where are we getting the money to pay for all these increases bestowed upon us?????)

Anonymous said...

We're in the final stages of transferring the ownership of our home to a not for profit organization with the provision that we shall remain in it for the duration of our lives.

No more real estate taxes to be paid!

So FUCK YOU Mayor Bloomberg!