Nyc Tax Commission S 2023-2024 Form

Instructions and help about Distribution Of The Burden Of New York City's Property Tax

this is New York a miracle city a city of tall buildings narrow dark streets magnificent parks broad avenues a fascinating city an incredible city the commercial final trading and cultural heart of a great nation the United States of America that was 1947 and it's still true but New York City also has a problem and we're not talking about population density or waste management we're not even talking about Brooklyn hipsters the New York Knicks or pizza at the problem is property taxes property taxes are an important funding source for New York City because they accounted for about twenty six point four billion in revenue in the last fiscal year that's about forty five percent of the city's total revenue each year because of the way the system is designed rental properties can be taxed four or five times higher than single-family homes and new ultra high-end condos can be assessed as if they're tenement buildings and homeowners and working-class neighborhoods can see tax bills as high as