Council Member Mark S. Weprin Expresses Concern about Recently Published Property Tax Assessments For Co-Ops and Condos

NEW YORK CITY (TIP): The New York City Department of Finance (DOF) recently published tentative property tax assessments for 2015-2016 and has reported that market values for co-ops and condos went up an average of 11 percent.

Since he first took office, New York City Council Member Mark S. Weprin (D-Oakland Gardens), founder of the City Council Co-op and Condo caucus, has been consistently outspoken about his concerns with the real property tax assessment formula.

In 1996, as a State Assemblymember, Weprin sponsored the original version of the co-op and condo real property tax abatement, which partially addresses the real property tax code’s adverse impact on co-op and condo owners. Now, nearly a decade later, Weprin continues to fight against the unjust property tax system that adversely impacts New York City’s middle-class.

“As an elected official who represents tens of thousands of co-op and condo residents, I will continue to fight for tax equity,” said Council Member Weprin. “This increase is a considerable financial burden on my constituents and the hundreds of thousands of New Yorkers in the co-op and condo community.”