New York City has not changed its real estate tax rate in years, but soaring property values are sending the dollar volume of the money collected skyward. One has to wonder how long before a property tax revolt takes hold in the city.
The accompanying chart tracks the past 10 years of property tax collections and the de Blasio administration's projections for the next four years. All are for the city's fiscal year that ends June 30.
Doesn't it say something that the most liberal mayor and City Council in the past 35 years have little interest in this issue?