Metrocosm releases analysis showing NYC's most expensive apartments have the lowest tax rates

By: Metrocosm
[Lack of] tax paid by NYC's most expensive apartments
[Lack of] tax paid by NYC's most expensive apartments
MANHATTAN, N.Y. - April 5, 2015 - PRLog -- Metrocosm - a newly-launched blog that examines urban life from a data-centric perspective - releases analysis of New York City property taxes, showing that more expensive apartments have lower property tax rates.

Within the analysis, Metrocosm examines New York City's 10 most expensive apartments ever sold, with price tags ranging from $52M to $100M, and concludes that they have property tax rates 10 times lower than the average.

The analysis also has implications for New York City apartment seekers. When choosing between different options, failing to consider property tax can be an expensive mistake. Metrocosm shows by example that apartments of the same price can have drastically different property tax treatment.

Among condominiums sold within the past two years for between $800k and $1.2M, the annual property tax ranges from as low as $997 to as high as $31,568.

Metrocosm is an exploration of urban life – housing, infrastructure, public policy, and culture – from a data-cenric perspective.

Max Galka
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Tags:New York City, Property Tax, Data, Visualization
Location:Manhattan - New York - United States
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