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AffordabilityAdjust Property Tax Assessments
Shifts property tax burdens by adjusting assessment percentages to favor outer-borough homeowners.
Date Promised
February 3, 2025
Owner Agency
Department of Finance
Requires State Action
YesLast updated: January 2, 2026
Overview
• Adjust property tax assessment percentages to shift the burden from outer boroughs to wealthier neighborhoods.
• The policy effectively lowers tax payments for homeowners in working-class areas while raising them for high-value properties.
• The Mayor utilizes administrative power to push class assessment percentages down for specific groups.