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Tue Feb 12, 2013, 03:13 PM

 

Residents Outraged After NYC Raises Property Taxes On Sandy-Ravaged Homes

http://newyork.cbslocal.com/2013/02/11/residents-outraged-after-nyc-raises-property-taxes-on-sandy-ravaged-homes/

NEW YORK (CBSNewYork) — A property tax revolt is brewing in areas of New York City hard hit by Hurricane Sandy. Residents are crying foul over the city’s decision to raise the assessed value — and the taxes — on homes damaged by the storm.

Imagine the nerve … the chutzpah … Your home sustains more than $100,000 in damages from the hurricane and the resale value immediately plummets, only to have the city say it’s actually worth more and you have to pay higher taxes, CBS 2′s Marcia Kramer reported Monday.

“I think they have a different reality and the reality is Mayor Bloomberg making money for the city. That’s what counts, not the people,” said Ira Zalcman, president of the Manhattan Beach Community Group.

The city has sent out higher tax bills — pre-set before Sandy hit. Homeowners are angry they weren’t readjusted down, and they’re mostly angry at Bloomberg.

(More at the link.)

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Reply Residents Outraged After NYC Raises Property Taxes On Sandy-Ravaged Homes (Original post)
Fire Walk With Me Feb 2013 OP
Jersey Devil Feb 2013 #1
Warpy Feb 2013 #2
Fire Walk With Me Feb 2013 #3

Response to Fire Walk With Me (Original post)

Tue Feb 12, 2013, 03:17 PM

1. The news story is probably incomplete and innacurate

Property assessments are usually set as of a certain date (in NJ it is October 1) so probably these people got notices that their property assessments were at a certain level as of the date NY City (or state) sets every year for property assessments. That won't prevent these people from applying to reduce the assessments due to Sandy.

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Response to Fire Walk With Me (Original post)

Tue Feb 12, 2013, 03:31 PM

2. It might also be a disincentive to rebuild in the same vulnerable spot

That might be the different reality that's at work.

Up in Mass, if a beachfront home is destroyed, that's it. The owners can collect the insurance on it but they have to rebuild in a safer spot.

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Response to Warpy (Reply #2)

Tue Feb 12, 2013, 03:32 PM

3. Gentrification? Nah, Wall Street aren't greedily eyeing those properties. And Bloomberg

 

didn't make his billions on Wall Street so he'd never do them any sort of favors along these lines...nudge nudge, wink wink...

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