No property tax system is totally fair, but few are as unbalanced and often skewed in favor of the wealthy as New York City’s.
Listen here and subscribe to On The Merits on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Megaphone, or Audible.
A law passed in Albany in the early 1980’s was supposed to keep taxes on the Big Apple’s single-family homes from rising too quickly. But what that means is that now a co-op in Staten Island has a tax bill 2,000% higher than a similarly priced brownstone in Brooklyn.
On today’s episode of our weekly legal news podcast, On The Merits, we hear from Bloomberg Law’s Donna Borak and Andrew Satter, who just published a big investigation into this topic. They tell us about what they’ve learned and about exactly how the city’s Kafkaesque property tax system hurts its homeowners.
Do you have feedback on this episode of On The Merits? Give us a call and leave a voicemail at 703-341-3690.
To contact the reporter on this story:
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.