Park Slope

Park Slope homeowners could pay higher taxes

September 18, 2018 By Raanan Geberer Brooklyn Daily Eagle
Row houses on Park Slope's Fifth Avenue. Eagle file photo by Lore Croghan
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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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  1. I’d like to see this go somewhere. My property taxes keep going up each year. I have a small 1 family house in Bath Beach and I pay twice as much as Mayor De Blasio does in Park Slope for his $1.8 million dollar brownstone. My house is valued at half of his!

  2. MickMcMick

    Most of us longterm Park Slope owners bought here when the place was a dump, and the prices were under 300K. Just because a bunch of outsiders are coming in and jacking up the comps by buying some overpriced $3 million homes doesn’t mean the residents here are all rich! If our tax bill went up by 10 or 20 thousand dollars a year, most of us would have to sell our houses and leave the city. I thought “progressives” were against what they call “gentrification.”