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A comment on New York Passes Tax on the Ultra-Wealthy. Parent comment

Re:New York Passes Tax on the Ultra-Wealthy by ceejayoz on Thursday May 28, 2026 @02:20PM (#48313209)
> Wouldnt normal people's taxes go up because the appraisal changes are global?

No. Our town finally reassessed everyone after not doing it since before COVID. Assessments doubled and everyone freaked out, but the tax levy didn't change, so the amount of actual tax basically didn't change; $160M in taxes for 20k people is still $160M in taxes for 20k people. People just now pay less tax per $1k house value, but for higher house values.

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Re:New York Passes Tax on the Ultra-Wealthy by nonethewiser on Thursday May 28, 2026 @04:10PM (#48314737)
Is your town NYC?

From what I see its 20% of the assessed value in NYC (which is currently significantly lower than market value).

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