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February 28, 2021 Unpaid property taxes in New York City are soaring as homeowners struggle and the pandemic recession slashes the rents landlords are collecting from both commercial and residential tenants. Subscribe The arrears rose to $1.3 billion in February 4.5% of the almost $30 billion due, according to figures released Monday by city Comptroller Scott Stringer. By comparison, unpaid property bills for the fiscal year that ended in June 2020 equaled 1.8%. Even in the aftermath of the 2008 financial crisis, owed property taxes peaked at 2.17% or half February s figure. Subscribe We have been warning about the inevitability of this since the start of the cancel-rent movement, said Jay Martin, executive director of the Community Housing Improvement Program, which primarily represents owners of rent-regulated buildings. Something is giving way in the fabric of property ownership in the city.

New yorkUnited statesCrown heightsPaimaan lodhiLaura feyerDivision of homesHotel association of new yorkCommunity renewalOnly getNew yorkersReal estate boardHotel associationNew york cityபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்கிரீடம் உயரங்கள்