City panel puts out property tax reform plan
BOROUGHWIDE — The property taxes you pay on your home sweet home are probably going to change, now that a mayoral-appointed commission has released its long-awaited preliminary report with 10 recommendations on how to reform the city’s confusing and maddening tax system.
If adopted, the recommendations issued by the New York City Advisory Commission on Property Tax Reform will change the property tax rates for 90 percent of residential property owners in the city, according to some estimates.
Some will pay less. Others will pay more.