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City lawmakers want to impose gentrification tax
nypost ^
| 12/25/2019
| Julia Marsh
Posted on 12/26/2019 6:53:46 AM PST by ChicagoConservative27
Heres one thing that unites local pols across the political divide a gentrification tax.
A bipartisan group of city lawmakers is pushing Albany to approve tweaks to the state tax laws that would allow them to hit new homebuyers with tax bills based on the actual market prices of their properties.
The coalition of 13 Republican and Democratic city council members says that taxes would not go up for existing owners.
New Yorks famously opaque property tax system offers big breaks to new homebuyers by taxing them at assessed values that are often millions of dollars less than the market price.
For instance, a buyer who snapped up a Clinton Hill brownstone for $3 million in 2017 only has to pay taxes on a sliver of that amount $24,000, leaving the lucky owner with a tax bill of just $4,297 a year.
(Excerpt) Read more at nypost.com ...
TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; US: New York
KEYWORDS: albany; city; gentrification; lawmakers; newyork; tax; taxes
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To: ChicagoConservative27
Going full retard again i see.
To: ChicagoConservative27
So they don't want people moving in and fixing up the places. They wish for large areas of their towns and cities to stay ghettos...
3
posted on
12/26/2019 7:00:09 AM PST
by
jeffc
(The U.S. media are our enemy)
To: ChicagoConservative27
You determine market value by what it sells for. Dumb Asses.
4
posted on
12/26/2019 7:01:02 AM PST
by
DeWalt
(Nostalgia ain't what it used to be.)
To: ChicagoConservative27
Gerification tax is un-constitutional!
5
posted on
12/26/2019 7:03:16 AM PST
by
The_Media_never_lie
(Please, oh pretty please let Crazy Uncle Joe Biden be the nominee.)
To: ChicagoConservative27
Moving poor people into rich neighborhoods is enlightened and progressive but rich people moving into poor neighborhoods is awful and abusive. Did I get that right?
6
posted on
12/26/2019 7:05:31 AM PST
by
Lurkina.n.Learnin
(If you want a definition of "bullying" just watch the Democrats in the Senate)
To: ChicagoConservative27
If I may? I understand totalitarianese:
"City lawmakers want to impose gentrification tax"
In plain English this is:
HOW DARE YOU improve OUR slums?!???!
WE own them and the people in them! They vote for us because they are desperate and hopeless.
If you improve their lot, we loose power.
You must be punished.
Here is your tax bill.
HOW DARE YOU!!!
7
posted on
12/26/2019 7:09:47 AM PST
by
null and void
(The government wants to disarm us after 243 yrs 'cuz they plan to do things we would shoot them for!)
To: ChicagoConservative27
The coalition of 13 Republican and Democratic city council members says that taxes would not go up for existing owners.
And that is why it is easy to pass a vote...............
8
posted on
12/26/2019 7:11:35 AM PST
by
PeterPrinciple
(Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
To: jeffc
So they don't
want people moving in and fixing up the places. They wish for large areas of their towns and cities to stay ghettos... Yep, see above.
9
posted on
12/26/2019 7:12:21 AM PST
by
null and void
(The government wants to disarm us after 243 yrs 'cuz they plan to do things we would shoot them for!)
To: DeWalt
You determine market value by what it sells for. Dumb Asses. Careful there, Citizen, that talk is dangerously close to Prop 13 territory.
10
posted on
12/26/2019 7:17:51 AM PST
by
null and void
(The government wants to disarm us after 243 yrs 'cuz they plan to do things we would shoot them for!)
To: ChicagoConservative27
A bipartisan group of city lawmakers is pushing Albany to approve tweaks to the state tax laws that would allow them to hit new homebuyers with tax bills based on the actual market prices of their properties. This is how it works in California under Proposition 13. Taxes based on most recent sales price, and increased up to 1 or 2 percent annually (sorry I don't know the details off the top of my head - I'm sure some California Freeper will correct me). It's been this way since Prop. 13 passed back in 1978.
11
posted on
12/26/2019 7:22:18 AM PST
by
Disambiguator
("Progressives" want government in action. Conservatives want government inaction.)
To: ChicagoConservative27
So why is NYC complaining about the SALT deduction limits?
Looks like no one comes close to the $10,000 in property taxes...
:-)
12
posted on
12/26/2019 7:22:32 AM PST
by
2banana
(My common ground with islamic terrorists - they want to die for allah and we want to kill them.)
To: ChicagoConservative27
“For instance, a buyer who snapped up a Clinton Hill brownstone for $3 million in 2017 only has to pay taxes on a sliver of that amount $24,000, leaving the lucky owner with a tax bill of just $4,297 a year.”
Is this a matter of someone buying a place far and above what it is actually “worth”?
I COULD sell my house for 3 million, but it inst actually worth 3 million if you sent an inspector and appraiser to look it over.
To: ChicagoConservative27
Why don’t they just fix their tax assessment procedures?
14
posted on
12/26/2019 7:27:52 AM PST
by
jdege
To: null and void
And citizen gives you the Bronx salute!
15
posted on
12/26/2019 7:34:46 AM PST
by
Biggirl
("One Lord, one faith, one baptism" - Ephesians 4:5)
To: ChicagoConservative27
How surprising! Greedy politicians soaking constituents for more money to give for more worthless programs.
To: ChicagoConservative27
They’re backing a resolution that calls on state lawmakers to change the tax law to require new homebuyers to pay property taxes on the market rate instead of the heavily discounted assessed value.
Market rate based on ?....If this were in place in 2008, would it have killed them, tax receipt-wise?
17
posted on
12/26/2019 7:40:39 AM PST
by
stylin19a
((2016 - Best.Election.Of.All.Times.Ever.In.The.History.Of.Ever))
To: ChicagoConservative27
18
posted on
12/26/2019 7:45:44 AM PST
by
FreedomPoster
(Islam delenda est)
To: ChicagoConservative27
Property tax is wrong to begin with. Land ownership is essential to survival; like food it should not be taxed.
19
posted on
12/26/2019 7:51:15 AM PST
by
ctdonath2
(Democrats oppose democracy.)
To: FreedomPoster
All this law does, is make the next owner of the property liable for the same amount of taxes as the previous owner, regardless of purchase price. Republicans supporting this should be expelled from the party.
20
posted on
12/26/2019 7:55:55 AM PST
by
Nabron
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