A rent-stabilized 1 bedroom apartment for $1,100 In NYC? broker's fee is $15K

Re:A rent-stabilized 1 bedroom apartment for $1,100 In NYC? ... by rootusrootus on Saturday February 10, 2024 @01:12PM (#39328666)

10% is brutal. It should take a lot of effort to increase taxes by more than inflation. 10% year over year means something is broken.

I’m glad we cap ours at 3%. And our community hasn’t collapsed for lack of property tax revenue yet.

And we are a progressive state, while Texas is conservative. Would have thought it would work out the other way around but I guess not.

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Re:A rent-stabilized 1 bedroom apartment for $1,100 In NYC? ... by mistercheph on Saturday February 10, 2024 @01:33PM (#39328917)

Compare income tax rates! The coffers must be filled somehow!

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Re:A rent-stabilized 1 bedroom apartment for $1,100 In NYC? ... by rootusrootus on Sunday February 11, 2024 @09:17PM (#39340706)

That's valid, but 10% compounded yearly is going to quickly dominate any other taxes.

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Re:A rent-stabilized 1 bedroom apartment for $1,100 In NYC? ... by seanmcdirmid on Sunday February 11, 2024 @09:22PM (#39340731)

Their tax bill is rising 10% a year, depending on their property tax (if it is budget based or not), this could just be that their property is appreciating 10% faster than everyone else’s property. That means their equity is shooting through the roof. If it isn’t on a budget system, that could mean that their property (and possibly everyone else’s) property is appreciating 10% a year, or maybe they are adding levies or increasing the rate to fund new spending.

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