Saturday, July 7, 2012

Fear not, co-op and condo owners

From the Queens Courier:

Co-op and condo owners left in the lurch after state lawmakers originally closed the year’s session without passing key pieces of legislation will not be forsaken for long, officials pledged.

The Assembly, Senate and Governor Andrew Cuomo have reached an agreement on “landmark” tax relief legislation that will be signed into law later this year when legislators return to Albany, according to Assembly Speaker Sheldon Silver.

“In the short term, the city has issued tax bills for the current fiscal year based on the current tax abatement rates,” Silver said. “When the legislation is signed into law as promised by the governor, we anticipate that the new lower rates will be effective retroactive to July 1.”

Co-op and condo community leaders said the state Legislature left them “high and dry” last week after lawmakers adjourned the session without extending the city’s J-51 program and its tax abatement program. A bill that would put a halt to skyrocketing property tax valuations was also not addressed by the end of the session, they said.


Anonymous said...

Haven't the co-op dwellers figured it out yet? 50-60 years ago when all thee publicly funded co-ops were built, they were important to the political machines that built them.
Now your elderly and on a fixed income, all the repairs that 60+ years of neglect to those buildings need to be made. You can't afford it, so for all your years of service the machines are flushing you down the toilet.
They want young people, who earn money, and wont whine and complain and demand things.
So now its time to raise prices and get some fresh blood in.
Good luck

Anonymous said...

Huh? Your comment doesn't make sense. I live in a large co-op that was privately owned and turned into co-ops in the 80s. The majority of the owners by me are in their 30s. My parents lived in a large rental building that became a cooperative also in the 80s. Their building is mostly young families. What buildings have been neglected for 60 years? We wouldn't be able to sell our properties if they were. Also, please learn the proper usage of your vs. you're.