FOR IMMEDIATE RELEASE
December 20, 2012
MAYOR BLOOMBERG SIGNS LEGISLATION REQUIRING THE DEPARTMENT OF FINANCE TO PUBLISH PROPERTY TAX GUIDES
Remarks by Mayor Michael R. Bloomberg at a Public Hearing on Local Laws
“The next bill before me is Introductory Number 958-A, sponsored by Council Members Oddo, Ignizio, Recchia, Barron, Brewer, Cabrera, Dickens, Eugene, Ferreras, Gentile, James, Koo, Rose, Van Bramer, Vann, Williams, Wills, Crowley, Koslowitz, Arroyo, Lappin, Fidler, Jackson, Reyna, Gennaro, Greenfield, Lander, Halloran and Ulrich. Introductory Number 958-A will ensure that the Department of Finance publish its Class One Property Tax Guide (for one, two and three unit residential properties) in perpetuity, and it will also require them to publish a guide for Class Two properties (residential properties with more than three units, including coops and condominiums).
“Though the property tax system in our City isn’t nearly as intuitive as any of us would like, the Department of Finance’s property tax guides will provide homeowners with much-needed transparency. The guides explain how, pursuant to State Law, the Department assesses properties, administers exemptions and abatements, and calculates tax bills — and I am sure that homeowners will find them helpful in the coming months as assessments are finalized for the next fiscal year’s tax rolls.
“I would like to thank Department of Finance Commissioner David Frankel and his staff for their work on this bill along with my Office of City Legislative Affairs. I would also like to thank the City Council for approving this legislation.”
Marc LaVorgna/Evelyn Erskine (212) 788-2958
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