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The Bill's In the Mail

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Property taxes are rising out of proportion to the increase in market value of New York City properties, according to city data. Taxes on single-family homes will go up 3.7 percent (average: $4,324, a $153 increase), while property values increased in 2012 by only about 1 percent. Taxes on co-ops will go up about 4.1 percent, compared to a 2.9 percent rise in value; condo taxes will rise 5.8 percent, while property values rose only 2.4 percent. [WSJ; previously]