Local pol calls for commission on property tax reform, creation of ‘more equitable system’
A local pol is calling for the immediate establishment of a property tax reform commission, one she says was already promised to the city of New York by Mayor Bill de Blasio during the run-up to the 2017 election.
The goal of the commission would be to tackle inequities in the existing tax rates which often have city residents owning less valuable properties paying far more in real estate taxes than other residents whose homes are worth considerably more.
“It’s critical for the families in our community that the mayor make good on his promise of establishing a property tax commission to develop a more equitable system that shares the property tax burden more fairly. In the meantime, he should freeze or, at a minimum, cap the property tax levy,” said Assemblymember Nicole Malliotakis in a statement released the same day she questioned de Blasio on the issue in Albany before the Joint Senate and Assembly Finance Committee. “The levy, which the mayor and City Council set, has increased nearly 38 percent over the past four years. This translates to an additional $7 billion City Hall is seeking from taxpayers.”