Tax Increase Constitutes an 'Attack on Middle Class'

The following was submitted to Bayside Patch and others by Bay Terrace Civic Association President Warren Schreiber:

On January 15, 2011 the NYC Dept. of Finance published the tentative property assessment roll for fiscal year 2012.

Many properties have reported increased market values of 35-55%. Our property taxes are of course based on the assessed evaluations. Increasing the assessments represents a back door tax on all property owners including co-ops and condos. 

The assessed evaluation for Section I increased by 35%. In terms of real dollars, barring appeals and certiorari process, our property taxes will rise by 33%, while at the same time the sale price of apartments has decreased.

This increase is an unconscionable, outrageous attack on middle class housing in New York City.

I urge everyone to review the tentative roll which is available on the web at www.nyc.gov/finance.