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The Taxman Cometh

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Broker-blogger Malcolm Carter reports that most co-op and condo owners will see a sharp monthly maintenance increase next year. Why? Mostly because buildings are trying to catch up with higher property taxes (and water and utilities costs have been rising, too.) Property managers who were willing to share numbers said maintenance fees will be going up 5 to 8 percent on average. According to Carter, that could be an extra $1,000 per year for a two-bedroom in a "modest building." [malcolmcarter.wordpress.com]