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Month: February 2020

Feb 2020

Moreau prepares for surgery of Route 9 buyers

In anticipation of a surge in commercial land purchases on Route 9, the Town Board will pay GAR Associates $70,000 for help with commercial valuation. The company will assist in determining the correct values for land that is suddenly worth much more because of the sewer. Work to build the sewer begins this year, but …

Feb 2020

Landlord groups predict spike in appeals as tax assessment values city at $1.3T

Landlord groups are disputing new city tax assessments that put the city’s property worth at $1.378 trillion. The Rent Stabilization Association says it expects a major uptick in appeals from owners hamstrung by new rent regulations that they say have decimated their profits. And the Real Estate Board of New York says the whole system …

Feb 2020

NY lawmakers push real estate tax on big investors

New York lawmakers want to close a legal loophole that allows deep-pocketed real estate investors to avoid paying taxes. Sen. Julia Salazar (D-Brooklyn) and Assemblyman Harvey Epstein (D-Manhattan) hope to raise millions to fix the state’s public housing by expanding the mortgage recording tax to capture a percentage of the billions of untaxed dollars real …

Feb 2020

Homeowners hope for property tax relief from reform commission

With the New York City Advisory Commission on Property Tax Reform continuing to recommend reforms to the city’s byzantine property tax system, homeowners are eagerly anticipating the findings of the blue-ribbon panel. “Property taxes are too high. It’s ridiculous. And it’s not just homeowners that are getting hurt. It’s people who rent apartments, too. If …