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Anti-Poverty Groups ID Property Taxes as a Culprit in Affordable Housing Shortage from THE CITY - All RSS feed.

Anti-Poverty Groups ID Property Taxes as a Culprit in Affordable Housing Shortage

Residential buildings sit on a Crown Heights block.

New York City’s convoluted property tax system, now exactly 50 years old, overtaxes large multifamily buildings, making it harder to build enough apartments to solve the city’s housing crisis. The lowest property taxes are levied on homeowners, especially those who live in areas with fast-rising property values, even though two-thirds of city households rent. Areas […]

The post Anti-Poverty Groups ID Property Taxes as a Culprit in Affordable Housing Shortage appeared first on THE CITY - NYC News.