4 ms·

Rates, or actual bills? Mill-rates don't really say anything given how wild property values are.

• sponaugle 5y ago
  That is a good question/distinction, but even with that taken into account, some of the numbers in that article are not that far off from other places. That $2.3 million dollar house had $28,000/yr in property taxes, and here in Oregon that would be somewhere in the $30k/yr range. However in Oregon there was a measure passed in the 90s that limits gains in evaluation of an existing house to 3%, and as a result every house always goes up by 3% assessed value. That makes it more predictable, as you can always expect that value to go up every year.
  • michael1999 5y ago
    Yikes! We have a similarly capped appreciation rate, and my annual property taxes are much less that $10K CAD here in Toronto. Those numbers seem wild to me, but who funds what and how can vary so much between jurisdictions, it's hard to make sense of it.
• xhkkffbf 5y ago
  As a percentage, NYC real estate taxes are pretty reasonable. The overall taxes are high because the value of the property has been skyrocketing. I feel a bit sad for the people who are being taxed out of the neighborhood, but I don't think they would give up the run up in the resale value. They're going to get all of that gain when they sell. ALas, that might not be for awhile.
• meetingthrower 5y ago
  Both. I swapped a city coop for a similarly priced house in Westchester and the tax bill quadrupled.
  • michael1999 5y ago
    How did your ranking on the property ladder change with that move? If you moved from a middle decile to the top, that would make sense. I would guess that there are enough zillionaires in New York that everyone else gets to pay less.