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Tax assessments rise 9%, signaling higher bills for landlords

4 monthes ago   |   By The Real Deal New York

Tentative property tax assessments for New York City are up, reflecting the city's recovery. For landlords, however, the gains signal a tax hike. A preliminary report from the Department of Finance this week shows rental buildings' market value jumped by 11.7 percent, while the assessed value that owners are taxed on rose by 8.6 percent. Although the figures represent a hefty jump for owners, the increase to multifamily assessments over three years is just 2.3
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