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Property Tax Hell

With property value assessments due out in 10 days, will homeowners plagued by plunging prices finally be spared from property tax increases by the city's arcane system? Not in Manhattan, Brick Underground writes, where experts say co-ops and condos that get a 5% increase should count their blessings. Here's BU's conspiracy theory: "Those conversant with the city's murky tax policy note that artificially high assessed values not only line the city's coffers but serve a valuable public relations purpose: To get out of its fiscal crisis by attracting investors, stores, and corporations, the city needs to appear valuable even in a recession." [Brick Underground]