New York City Residential Class 1 Property Owners, check if you are paying too much property tax

We have added an android application to allow you to check if you are overpaying your New York City Property Tax when compared to the average assessment ratio. See https://play.google.com/store/apps/details?id=com.brooklynmarathon.Tax2

Also see http://tax.tidalforce.org/tax1 and our previous article: http://timingblog.brooklynmarathon.com/2014/07/a-modest-proposal-for-new-york-city.html

The Williamsburg Bike Path is very dangerous

Since February 2014, cyclists have endured a NYC DOT caused pothole filled bike path.

The history is that the bike path was in very bad shape, but the DOT project started in February 2014 cut large squares which you can see in the pictures.  They exposed the bare metal which becomes very slippery when wet.  This has caused many accidents including the author.

See https://plus.google.com/photos/+RalphYozzo/albums/6025970906929895473

Those squares on DOT created dangerous potholes

Please contact your state and city representatives and refer to this article and ask for a safe bike path.  Where is Vision Zero?  The grade for this DOT project is ZERO!  Hopefully, that is not what we mean by Vision Zero!

2014 July Post Google I/O Presentation

See https://docs.google.com/presentation/d/1rXz8OGjD2LsMyc11yuEYZhc9sY6NLlhyc-BD9yaPtgQ/edit?usp=sharing

A modest proposal for New York City Class 1 Property Equity $400 Million overpaid

To check if you are overpaying your New York City Property Tax (currently for Class 1 properties only) see this application and this application (initial release/older version)

Using the published data from  our New York City Department Of Finance (http://www.nyc.gov/html/dof/html/property/assessment.shtml) we will propose a plan for a revenue neutral change to the assessed values across all Class 1 properties to make the assessment ratio equal as required by our NY State Constitution.

Currently we have assessment ratios for Class 1 properties that varies from less than 1% to 6%.  This is obviously unequal.  1 is not equal to 6. :(  This is obviously true. :) The reason your property is assessed at a higher value than another property with a much higher market value is an arbitrary quirk of how the real property tax law was written See this report

The plan to is to modify the current assessment ratio from its current wide range to one value.  The value is taken from the current data in order to make the change "revenue neutral".  The new value for the assessment ratio is 4.6%

Therefore, those Class 1 properties assessed at higher than 4.6% will be lowered to 4.6% and those below 4.6% will be raised to 4.6%.  4.6 IS equal to 4.6.  This is also obviously true. :)

The shift of property tax payments will be $400 Million.

In other words, there are  470,633 property owners who, as a group, are overpaying $400 Million and there are  191,047 property owners who, as a group, are underpaying that same $400 Million.

For details see:

Play TicTaxToe and learn about the New York City Property Tax system

Here's your opportunity, you can play TicTaxToe and learn about the New York City Property Tax system.

Go to http://bit.ly/tictaxtoe

Yes you read correctly Tic Tax Toe, not Tic Tac Toe :)