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Article: Action Committee calls for action on taxes. (Action Committee for Reasonable Real Estate Taxes; New York)
- Article from:
- Real Estate Weekly
- Article date:
- November 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tired of unkept promises, the Action Committee For Reasonable Real Estate Taxes is making its own proposal to achieve a reduction in co-op and condo taxes as has been pledged by Mayor Rudolph W. Giuliani and City Council Speaker Peter Vallone.
The politicians have pledged to help reduce property taxes for these vertical homeowners and, over a 10-year period, bring their tax payments in line with those of one- to three-family homeowners.
In fact, the current City budget provides $17 million for such benefits, which are expected to reach $400 million to $500 million by the tenth year of the proposed tax reduction program.
"A commitment was ...