For the first time ever, the total assessed value of Big Apple properties has topped $1 trillion — spurred on by Brooklyn’s surging real-estate market.
The tentative assessment roll released Friday by the Finance Department shows that assessed property values jumped 10.6 percent to $1.072 trillion for the 2017 fiscal year, on top of a 9.1 percent bump last year.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
“I would say it has to be the most valuable [city in the US], ” said veteran property-tax attorney Eric Weiss.
The change has been even more dramatic in Brooklyn, with properties climbing 16 percent, compared with a rise of 7.4 percent last year.
While the citywide numbers didn’t surprise Weiss, he saw the Brooklyn figures as noteworthy: “That reflects the fact that Brooklyn has become a very hot market, ” said Weiss.
Read the full story at New York Post, by Jennifer Gould Keil and Danika Fears
