4 ms·

Those are two different things: the new tax, and fixing the broken appraisal process.

• nonethewiser 4mo ago
  Its part of the same law. Regardless, the appraisal changes are global, right? That is, it would apply to a $200M 17th home and a $750k residence alike, right?
  • eli 4mo ago
    No, there is no global change that I'm aware of.
    • nonethewiser 4mo ago
      Look at the article. It changes appraisals to be comparable sales. Thats how property taxes work in general for NYC. Do you see anything that says this change is scoped to these 2nd homes over 1M? I cant find that specified anywhere - it only mentions the general method.
      • eli 4mo ago
        Yes it is proposed for only the new second home tax. It does not currently exist at all.