City Council to revamp “outdated” property-tax system

New commission formed to create fairer set-up

TRD New York /
Apr.April 23, 2014 10:05 AM

The City Council is expected to propose sweeping changes to property taxes today, including appointing a commission to make recommendations and host public hearings.

“The commission on property-tax reform will spearhead changes to the city’s outdated tax code and create a more equitable and transparent property-tax system to meet the demands of New York City in the 21st century,” an aide for Council Speaker Melissa Mark-Viverito told the Wall Street Journal.

Mayor Bill de Blasio’s aides said yesterday that an increase in the property-tax rate will not be proposed. The mayor is set to unveil an updated budget plan on May 8.

Jacques Jiha, who was appointed earlier this month as commissioner of the city’s Department of Finance, has said the property-tax system is fraught with “a lot of unfairness and inequity.” Mark-Viverito and de Blasio would jointly appoint members of the new commission on property taxes. [WSJ]Mark Maurer

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