Presumably peeved that our inbox emptying is denying us the ability to cover today's hot breaking news, a bunch of readers have sent along word about a giant real estate fuck-up by New York City. In the spirit of continued mailbag emptying, here's the email from Joshua Kahr of Kahr Real Estate:
Although you'll probably link to it anyway, I figured I'd give you a heads up on a huge property tax screw-up that the City has made. Basically, the City is drastically underassessing commercial property and losing billions. I also wrote the report that is referenced in the article. A copy of the report is also attached.For your reading pleasure, the 26-page report is linked here as a PDF download. Friday afternoon fun!
· Property Tax Blunder Costs City Billion$ [NYPost]
· Lowball Estimates Costing City Billions [NYDailyNews]
· Tax Assessment Ratio Study [PDF, 1.5MB]