Park Slope homeowners could pay higher taxes
Under the current, complicated property tax system, which uses fractional assessments, homeowners in some neighborhoods are paying much more in taxes than those who own similar properties in other neighborhoods. Under property tax reform, homeowners with valuable properties in Park Slope might be the most affected, with 98 percent of them paying $11,000 more than they currently do, according to the New York Post. This could happen if city homeowners started paying taxes based on 100 percent of assessed value rather than the current 45 percent, said former NYC Finance Commissioner Martha Stark, a Park Slope resident herself. Staten Island homeowners would come out the winners, with 97 percent of them paying less, the Post reported. “No such plan is now in the works, but these possibilities are some of the calculations and statistics that will provide insight for the NYC Advisory Commission on Property Tax Reform, which is now meeting to come up with a road map for property tax reform,” the Post said.
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