This doesn't seem right to me. I own an apartment in a six story co-op in NYC and pay < 1% of the market value in property tax every year. Not sure where the d

This doesn't seem right to me. I own an apartment in a six story co-op in NYC and pay < 1% of the market value in property tax every year. Not sure where the discrepancy comes in though. According to this site, the effective property tax rate in NYC is much lower than listed in the article: https://smartasset.com/taxes/new-york-property-tax-calculator https://smartasset.com/taxes/new-york-property-tax-calculato... There are also a lot of tax credit programs that the article does not mention: https://www.tax.ny.gov/pit/property/exemption/index.htm https://www.tax.ny.gov/pit/property/exemption/index.htm My property is my primary residence, I don't rent it out, so maybe that explains the discrepancy? But I find it difficult to believe that if there is that much of a difference that landlords are making any profit at all, and I'm quite certain they're not doing it out of the kindness of their hearts :)