Marcus & Pollack LLP

Office Property Taxes are increasing!!! Outrageous, when the City fails to consider the high vacancy rate, shockingly low sales prices and declining income for this sector. Many office properties, particularly downtown have insufficient income to pay real-estate taxes. The City's need for more tax revenue is going to destroy our commercial office industry. There are fully empty zombie office buildings but taxes are increased!!? #office #realestate #propertytax [email protected]

Congestion Pricing (which was always a disguised form of taxes and tolls) is temporarily halted by Governor Hochul. If the Public were allowed to vote on this it would be defeated at the polls by an overwhelming margin. It seems the Politicians are worried about voter backlash after all. NYC does not need another gov't inspired monkey wrench to harm its fragile economy and hurt its people. You know what is causing congestion? Multiple bus and bike lanes that are empty most of the time.

PROPERTY TAX SHOCKER !!! NO TAX RELIEF FOR NEW YORK CITY OWNERS Stubborn levels of high taxes stand out in the latest assessment roll just released by NYC. You would think that office vacancy of 20% and climbing, empty storefronts, would be a wakeup call that real estate taxes that are too damn high! The City’s new tax roll has Class 2 residential assessments increasing by 5.3%; Office Buildings increased by 3.5%; Retail properties increased by 2% and Hotels up a whopping 8.4%. We see no real relief in sight as evidenced by the latest roll and there will be no significant reductions in taxes. It’s not fair to put the burden of increased taxes on a real estate industry in crisis. Property taxes are required by law to be based on the market value of the property, which is clearly in a decline. The only solution is to challenge this unjust assessment valuation.?Choose a law firm that actually takes matters to Court and Trial which results in better assessment reductions.?The City will face a crush of tax appeals that are now headed for court. It’s a race to the courthouse against the march to a foreclosure and receivership.?Fight or Flight! We have a record number of appeals headed towards court.?Most importantly remember to file your property tax appeal before the March 1st. #office #retail #hotels #propertytax #NYCtaxes [email protected]