New York City’s property tax system continues to disproportionately burden lower-income residents, a disparity that worsened during the Covid-19 pandemic, according to a new report by state Comptroller Thomas DiNapoli.
The latest data underscores a need for the city to recalibrate its process for determining tax bills, a system that fiscal watchdogs have repeatedly said is unfair and risks driving away middle-income and working-class New Yorkers, DiNapoli said in the report, released Wednesday.
Even when property values declined for many condos, co-ops, and rental apartments because of the pandemic, property tax bills continued to rise because ...
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