S7000A (tax law) - Wikipedia


After nearly four decades, finally, the property tax law in New York City and State has a Wikipedia page. 

This is a key part:

New York City Department of Finance has lowered the assessment ratio in the past to comply with the law's uniformity requirement. After the State Legislature enacted the current system in response to Hellerstein, the Class One assessment ratio was about 25%. It was lowered to 18% in 1985, and then to 12% in 1989. In 1992, the ratio was lowered to 8%, and then in 2004 to the current 6% ratio.[13]


Popular posts from this blog

Should millionaires get the circuit breaker for New York City property tax?