Tag: Real Estate
New York City's World War II-rooted "housing emergency" is now officially indefinite—and has spread, potentially, to every corner of New York State. But the potential negative impacts of the law won't be limited to the Big Apple. The law is likely to have a chilling effect on prospects for multifamily investment and development in struggling communities across New York—especially upstate. Read More
Those findings were based on data compiled and supplied by the Empire Center for Public Policy in Albany, which gathers and adds tax rates for every county, municipality and school district to show the combined toll of school and government taxes for any place in the state, adjusted to smooth differences in assessment levels and allow comparisons. Read More
Residents of the Western New York village of Sloan had the highest effective property tax rate in New York (outside New York City and Nassau), according to Benchmarking NY, the Empire Center’s annual rundown of local property tax burdens. Read More
The newly enacted federal income law provision limiting state and local tax (SALT) deductions "is likely to substantially decrease home values" in New York, Connecticut, Maryland and New Jersey. That's a key claim of the lawsuit filed by the four states against the Trump administration today with the goal of having the $10,000 SALT deduction cap declared unconstitutional. Read More
For most of the past year and a half, Gov. Cuomo has sought to make the 421-a affordable housing program both less effective and more wasteful, by mandating the use of higher-priced unionized construction workers on 421-a projects. Read More
Harvard's Ed Glaeser, also a Manhattan Institute senior fellow, and Wharton's Joseph Gyourko have an (free registration required) of the likely futility of proposed government efforts to stop the slide in housing prices. The profs specifically Read More
The tenant household income threshold at which a landlord could initiate "luxury decontrol" of a New York City apartment would be raised to $300,000 under rent regulation extender bills passed by the state Assembly yesterday. This is well above... Read More
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