From the NY Post:
Here we go again! Big Apple property owners will be hit with higher tax bills on July 1, after the city raised the assessment rolls yesterday.
In what is almost an annual event, the Finance Department reported that the total market value for property — from one-family homes to office towers — rose an average 3.8 percent to $845.4 billion.
But the bad news is that rising property values means higher tax bills.
Even though tax rates haven’t changed, a single-family homeowner will have to cough up another 2.9 percent in property taxes, bringing the average bill to $4,084.
For co-op owners, the average bill will increase 4.8 percent to $5,840.
Tax bills to condo owners will inch up 1.9 percent to an average of $7,289.
But some property owners will see their bills skyrocket far beyond the average hikes because city assessors determined that changes ranging from renovations to rising rents affected the property value.