Property tax laws favoring rich?

A study by the city’s Independent Budget Office finds that the wealthy seem to be disproportionately benefiting from property tax breaks put into place 25 years ago. The study found that residents living in condos and co-ops on the Upper East Side and Upper West Side often benefit from “an arcane provision of state law that artificially deflates the assessed value of their apartments.” more [NYT]
Renters bear greater burden more [Sun]
Council: end breaks for the wealthy more [NYDN]