Friday, January 18, 2013

Kicking them when they're down

From the NY Post:

Their homes were downed by Sandy, but their taxes are still going up.

At least 69 homes severely damaged by the super-storm are going to receive higher property tax bills next week despite losing an average of more than 25 percent of their value, officials said yesterday.

It sounds nuts, but officials said that's how the convoluted tax systems works.

Assessments can't go up more than 6 percent a year, or 20 percent over 5 years, no matter how much the value of a home soars in the Class 1 category that covers 1-, 2- and 3-family properties.

Soaring market values that can't be captured in one year are carried over to the next year.

So 69 homeowners hammered by Sandy are going to get the shock of their lives when their preliminary 2013-2014 property tax bills arrive and they notice their assessed values have gone up an average of 4.3 percent, while their market values were reduced by 26.4 percent. Since tax bills are based on assessed value, they'll be forking out more for taxes.


Anonymous said...

is not democrat/liberal/progressive dictatorship grand?

Anonymous said...

Fucked up the ass, without vaseline!
Have you no shame, Mayor Bumberg?

Anonymous said...

Look on the bright side.
These taxes will give you more bike lanes.

Anonymous said...

Taxes on worthless homes and plots should be zero - I'd go to court over it and the community must camp out at City Hall to demand aid and action - not to be spat upon - it's all shameful - aren't you glad you voted for Obama folks!

Anonymous said...

The Post story leaves out a couple relevant points.

The city is reinspecting those 69 properties and promises (for whatever that's worth) that no one who lost value due to Sandy will pay higher taxes.

And the city is holding public meetings on assessments in each borough so people can question officials.

Glad one paper got it right.

Anonymous said...

They at least should be granted an extended interest-free grace period in which to pay. I think it's awful that they have to pay the property taxes, but like the article says, they are paying for the previous fiscal year. The next tax bill would obviously be completely or significantly reduced.

And how is this Obama's fault? It is the City Council and mayor you should aim your ire at.

Queens Crapper said...

Acutally if you had clicked on the link and read the entire Post piece, you would see they got it right as well.

Anonymous said...

So no new bike lanes ? :-(