Bloomberg Nasty Holiday Surprise: Property Taxes going up by 10%

 

New York City property taxes for coops and condos have just been raised by 10.3%. 

The average co-op resident's tax bill will go from $4,467 to $4,930 and condo owners from $6,422 to $6,874.

This will certainly not be helpful for the Manhattan Real Estate Market in 2010. Mayor Bloomberg may well regret lobbying so heavily for another term in office. As a Manhattan coop owner myself, I am not a happy camper!