Here's an e-mail we received from our friends over at the Rent Stabilization Association (RSA) :
RSA ALERT: Changes to the Property Tax Rate
The New York City Council voted to approve a set of changes to the budget that were negotiated with Mayor Bloomberg, who is trying to guard against the effects of an economic slowdown. The package of spending cuts and tax hikes, including an average property tax increase of 7 percent, come as the city faces deficits of more than $1 billion next fiscal year and multiple billions in future years.
CHANGES IN YOUR JANUARY, 2009 TAX BILL
A new tax rate was adopted for
The tax rate was increased for
The total increase in tax rate from last year comes to 9.5%. Let your Councilperson know if you think you will have trouble paying such a large increase.
The new property tax rates for the 2008/09 tax year are listed in the following table:
YEAR |
CLASS 1 |
CLASS 2 |
CLASS 3 |
CLASS 4 |
08/09 |
16.787% |
13.053% |
12.577% |
10.612% |
08/09 |
15.605% |
12.139% |
11.698% |
9.870% |
07/08 |
15.434% |
11.928% |
11.577% |
10.059% |
For more information you can visit the Department of