Jerry Kann

Green Party Candidate for
New York City Council

District 22 - Astoria, Queens

 

A fairer city property tax system

Property taxes provide about a third of the City’s budget. Middle-income homeowners carry most of that burden, while many people in "high rent" New York neighborhoods are not paying their fair share. This has got to change.

Ever wonder why some buildings in Manhattan just sit there abandoned for year after year? It’s because the owners only have to pay a very small tax on the land on which the building stands. They can hang onto to that useless eyesore indefinitely, until conditions are just right for them to build something new on the property.

That’s great for real estate speculators—--and bad for just about everybody else.

New York City should adopt "100% valuation" on these kinds of properties, demanding a much higher tax. This gives owners plenty of incentive to build on that property rather than just let it sit there. If they do choose not to develop it, at least they’ll be providing money that can be used for essential city services.

 

 


This site brought to you by the Kann For Council Campaign, 2001. Last updated July 12, 2001.