NYC OFFICIALS SEEKING PROPERTY TAX REBATE
ome officials are seeking a property tax rebate for small homeowners in the upcoming city budget. Owners of one- to three-family homes, co-ops, and condos would be considered for rebates. For those Staten Island residents who traditionally paid a higher rate for less valuable residences than residents in other sections of the city, property taxes have long been a source of frustration.
New construction or large changes to existing construction might prompt a valuation reassessment under the state’s property tax law. This means that property taxes on newer, less expensive residences in Staten Island communities may be greater than on older, more valuable buildings like Brooklyn’s Cobble Hill.
Click here to read more by Tracey Porpora | porpora@siadvance.com
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