GUEST OP-ED: Not the time to raise real estate taxes

With December here, there are a few things we expect. Theapproaching holiday season brings some added expenses. The end ofthe year signals another pay year has ended and yearly taxes aresoon upon us. Finally, we all know to expect our property tax billsthis holiday season.

Most of us have already received them, and this year is nodifferent than any other, we have seen an increase in propertytaxes. We all saw a .9% increase in the tax rate. In addition tothe rate increase, in many cases, property owners are seeing theirassessed property value increased.

We see this often. The city of New York has decided that yourproperty value is worth more, so you pay more. This year, my officesurveyed several real estate agents throughout my district, to findout if property value overall has increase, decreased or stayed thesame. They all said the same thing: property value has eitherdecreased or stayed the same. Not one realtor has stated thatproperty value has increased.

With this in mind, it makes one ask: if realtors aren’t seeing anincrease in property value, then where exactly is New York Cityseeing it? To increase property value on our taxes when there is nocorrelation in actual property sales is disingenuous andwrong.

It is hard enough in this economic climate to make ends meet.

We shouldn’t be seeing unsubstantiated property value increaseswhen they don’t exist in the open market. It is just plainwrong.

State Senator Marty Golden represents the 22nd SenatorialDistrict in Bay Ridge, Bensonhurst, Gravesend, Marine Park andGerritsen Beach.

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