The Wall Street Journal reports that a commission has determined the proper way to overhaul the City’s property tax assessment process. The paper stated, “The plan was developed by a high-level city commission empowered by the mayor and City Council speaker. It could affect 90 percent of homeowners in the city. Like earlier efforts, this plan might go nowhere, given concerns of residents whose property taxes could increase. It must be approved by the governor, mayor, City Council and State Legislature. Expect a lot of lobbying…Single-family homeowners there would see lower property tax bills, according to Marc V. Shaw, the commission’s chairman.” When more information on the plan is released, we’ll discuss it at our meetings and in the Berry. For now, unfortunately, we can continue to expect to see our property valuation go down but our taxes rise.
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SERVING MIDDLE VILLAGE AND MASPETH SINCE 1938.