Forum Archive

The city has assessed most average park slope brownstones at over a million, at least from property shark.

Following thru the tax calc implies the city desires over $10,000 a year in taxes each!

Transitional values limit how fast taxes can reach that mark, but if my reading of transitional value is correct then property tax will still rise pretty fast and within 5 years or so, will reach full rate.

Does this mean park slope brownstones are a property tax bomb waiting to go off? Over $10,000 a year per small brownstone is a whole bunch of tax! A garden rental might take half a year to collect this much in income.

Is there any hope? by 2010, will all slope owners be cutting checks for 1% of the market value of their place, year in year out? if market values drop, will taxes overhang and drive the market down further?