More fake news and frivolous lawsuit:
Here are tax rates in various counties in state of New York and in NY City:
County Median Home Value Average Effective Property Tax Rate
Monroe County Median home value: $136,000 Rate 3.07%
Montgomery Median home value: $101,200 Rate 3.04%
Nassau Median home value: $454,500 Rate 2.13%
New York Median home value: $828,100 Rate 0.80%
While many other taxes in NYC are quite high (like sales and income taxes), property taxes in the city are actually very low. The city’s mill rate on residential property is just 8.5 mills. That means the annual tax on a home with a market value of $400,000 would be about $3,400.
However, because of a number of property tax exemptions, many homeowners in New York City pay even lower rates than that. Among the exemptions available are the School Tax Relief (STAR) Exemption, the Senior Citizens Homeowners Exemption, the Veterans Exemption and the Disabled Homeowners Exemption.
Those exemptions all serve to lower assessed value, and, therefore, the property taxes paid. When taking those exemptions into account, effective property tax rates in NYC are often less than 0.8%. In Brooklyn for example (Kings County), the rate is just 0.6%, less than half the state average. In Manhattan (New York County), the rate is 0.8%. In Queens, the rate is 0.75%. The Bronx has the highest effective tax rate in New York City, at 0.83%.
It is also worth noting that New York City has a different assessment system than the one described above. The city has four classes of property. Residential, one- to three- family homes are class one. The assessment ratio for class one property is 6%. THE RATIO FOR OTHER CLASSES OF PROPERTY (COMMERCIAL AND APARTMENT BUILDINGS) IS 45%. That means that homeowners pay far lower property taxes in New York City than other types of property owners.
NOTE: So property taxes are mainly shifted onto commercial and apartment properties in New York City.
SOURCE:
https://smartasset.com/taxes/new-york-property-tax-calculator
Okay, so riddle me this: how is it possible to own a home worth $1.7 million and pay less than 1% tax?
Not just less than 1% but, in fact, he pays only .002%(3600÷1,700,000).
That ain’t right...
That’s good research. I like to use the Left’s arguments against them. I would ask Mr. Russell why whites have such higher housing expenses.
The entire article leaves out the assessment rates and concentrates entirely on valuation...its as if the author has no clue how property taxes work.