Another Tax Hit

Mayor De Blasio’s 2017-18 Executive Budget Proposal, released Wednesday, anticipates a 5.9% overall increase in property taxes. As always, Class 2 residential would pay a disproportionate share.

A coalition of homeowner and industry groups, including CHIP, announced a lawsuit, Tuesday, attacking the City’s tax assessment system as racist and unfair. Effectively, the Class tax system gives breaks to homeowners in the wealthiest neighborhoods at the expense of everyone else. A similar lawsuit brought in 2014 by apartment renters was dismissed for lack of standing by the plaintiffs without ever getting to the core issues. Ironically, De Blasio and other politicians agree the system is unfair, but just don’t want the courts to order them to fix it for fear of a voter backlash.

Over industry objections, the City Council, Tuesday, approved a bill requiring apartment building owners to file an annual report on bedbug infestations in their buildings and either post it or distribute it to tenants. It would go into effect in 180 days if signed by the Mayor, as expected.

As reported earlier this week, the Rent Guidelines Board scheduled hearings on a proposed 1-3% increase for one year lease renewals and 2-4% increases for two year renewals. Contrary to many press reports, the Board does not have to approve guidelines in this range and could go lower, so get out there and testify June 8th, 12th, 14th or 19th. Call CHIP at 212 838-7442 and we will put you on the speakers’ list.

The City Planning Commission this week began the formal review process for rezoning East Harlem to encourage higher density housing development. This is the third of a dozen neighborhood rezonings De Blasio announced when he took office. Only one, in East New York, has been approved so far.

Meet 10,000 other owners and managers June 21-24th in Atlanta at the National Apartment Association Education Conference, featuring programs on everything from water management to leasing technology to business management. ABO members get a $150 member discount on registration.

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