With all the complaining about the shortage of revenue in NYC, I still note property taxes there are well below the surrounding counties. Why doesn't the Mayor propose increasing NYC property taxes on million dollar home to even 66% of those in Long Island, Westchester, etc????? That would provide lots of needed funds!
7
@Donna Gray
He and the Guv would rather inconvenience small businesses and employees with commuter taxes in and around the city and build more bicycle lanes than annoy his faithful.
@Donna Gray - New York CIty has traditionally relied on the city income tax rather than property taxes. If they increased property tax too much, they would drive out residents. They have to offer some sort of value for the money, and compete with surrounding areas.
2
Why are NYC property taxes so low compared with the surrounding counties? NYC is desperate for funds so why no tax million dollar homes at the same rates are the rest of the region. That is a 'no brainer'!
6
New York City Residents pay local income tax, too. NYC has even revenue, it just spends too much.
5
@Erika
Imagine if they had to live on real budgets? These pols live in a bubble.