New York City’s Puzzling Property Taxes Put Squeeze on Owners

New York City’s property tax system favors single-family homeowners over renters or owners of commercial buildings, and often penalizes those who own low- and moderate-income condos and co-ops.

Bloomberg Tax used public records law to access homeowner appeals for relief sent to a special commission studying potential changes. Then we interviewed several homeowners, who described what the arcane tax system means for them.

The resulting interactive, published in conjunction with Bloomberg CityLab, explores the impact of the city’s main revenue stream from the perspective of homeowners from Queens to Brooklyn, Staten Island to Manhattan.

And this video examines how ...