An organization challenged New York City’s property tax system as unfair, unconstitutional and discriminatory. Tax Equity Now NY LLC, an association of property owners and renters, filed a lawsuit challenging the New York City property tax system. The owners and renters alleged that the City’s property tax system was unfair and results in racial discrimination. The association made several claims: the owners of one-, two- and three-family homes pay too little in taxes as a result of caps and low percentage valuations; condominium and cooperative owners pay too little because the units are valued as if they are rental properties; and that the condominium property tax abatement program is arbitrarily applied. The association also claimed that the New York City property tax system violated the Federal Fair Housing Act because it disproportionately taxes properties in minority communities at higher rates. (more…)
(Left to Right): Mayor Bill de Blasio, Department of Finance Commissioner Jacques Jiha, and Comptroller Scott Stringer./Image Credit: Office of the Mayor, Department of Finance, and Office of the Comptroller
The recommendation will also impact interest rates for small property owners not impacted by COVID-19. On May 13, 2020, the New York City Banking Commission recommended that the City Council create a new hardship exemption to eliminate interest on late payments for property taxes due in July for small property owners who faced financial hardship due to COVID-19. The Banking Commission is comprised of Mayor Bill de Blasio, Department of Finance Commissioner Jacques Jiha, and Comptroller Scott Stringer.
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Department of Finance Payment Calculator Image Credit: Department of Finance
Department of Finance looks to ease tax burden on homeowners through deferment programs and suspension of the annual tax lien sale. On March 24, 2020, the Department of Finance announced several measures intended to assist property owners with their tax payments amidst the COVID-19 outbreak. With unprecedented unemployment rates, many throughout the city will have difficulty paying their taxes come the close of the fiscal quarter and going forward. Each of the following programs is aimed to lower the amount of taxes owed and provide payment plans for those individuals who qualify. The programs are as follows:
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Date: Thursday, January 23, 2020
Time: 2:00 p.m. – 5:10 p.m.
Location: 185 West Broadway, (Bet. Worth and Leonard Sts.), Auditorium
*Registration: $250 General Admission / $100 NYC Agency Attorneys
CLE: 3.5 Transitional and Nontransitional CLE Credits: 3.0 in Professional Practice and 0.5 in Ethics and Professionalism
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When: Wednesday, January 23, 2019
Time: 2:00PM to 5:00PM
Check In: 1:30PM to 2:00PM
Where: New York Law School, 185 West Broadway, New York, New York 10013
Credits: 3.0 Transitional and Nontransitional CLE credits – 2.5 in Professional Practice and .5 in Ethics and Professionalism (more…)
