Posted on 02/28/2014 6:56:00 PM PST by ConservativeStatement
The city’s property tax system has long been criticized for favoring homeowners over renters, but a bombshell lawsuit filed Wednesday charges that it discriminates against blacks and Hispanics as well.
The allegation, if upheld, could force a radical overhaul in how property taxes are levied — potentially forcing homeowners to pay billions of dollars more each year.
“The state would have to alter the property tax system to address the disparities, which would change the distributions of property tax burdens,” said Doug Turetsky of the Independent Budget Office.
(Excerpt) Read more at nydailynews.com ...
(headline shortened to fit)
Renters pay property taxes through rent as they should. What would be the complaint?
And if there is a disparity it's because of special property tax breaks for the elderly or veteran's or the disabled.
Someone has to pay the insane public union pensions...
If these idiots think any lowering of property taxes on rental property will translate into lower rents... they don’t know squat about capitalism.
The owners of the rental properties will simply pocket the extra profit, there wont be a single dime taken off the rent. A property will always rent for the most the market will support.
Unless it is “rent controlled” so the rent is a small fraction of market per government mandate
My grandmother lived in NYC in her house (wonderful woman) and they give a 50% property tax discount to those over 65.
This makes perfect sense as why should retired seniors on fixed pay for young parents kids school?
They need some sort of tax credit for senior retired renters to make it even.
They have a point — incomes taxes dispropotionately affect whites so we immediately need a flat tax. Oh, they meant something else...
If you want lower rent, look elsewhere. If you can't find it in an area then you are looking for below market pricing.
The city and state will not collect less taxes.
EVERYONE pays property taxes and I think there is a need for those bringing this suit to prove they are taxed more than others.
MAYBE the owners of their places had in those areas bought the properties more recently which in many cases would bring a higher property tax to the owner.
Maybe these areas have created new bonds to rebuild schools and roads which would be an additional tax placed on an older area in a process called “Revitalization”.
In the old days families who rented often lived two families in an area the size of a two car garage. Today's standard of living is better.
I don’t know about New York City but in various municipalities there are all sorts of exceptions...some rental properties are zoned “commercial” while others are zoned “residential,” and consequently taxed at different rates.
I'm a renter in an apartment complex of many buildings. Every year, in addition to my rent, one month a year I am required to pay a prorated share of the property tax due on the property.
In my case it's typically around $40 a year. It's standard in a Massachusetts rental agreement.
Why should young adults with kids pay into social security? They don’t get benefit and probably never will. But by all means, let’s give the wealthiest age group more tax breaks.
My favorite pet peeve question .
Back when xtranormal website was live I created this video to explain the answer to your question
A Liberal Democrat explains the why the Social Security Trust Fund is safe
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