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Taxing Matters

Rising market values contributed to New York City's property-tax base increasing at the second fastest rate in two decades. Tax-assessment rolls will rise 8 percent at the beginning of July, increasing tax bills for property owners. Tax rolls on offices buildings are up the highest, 10 percent, while condos and rental buildings saw 9 percent increases. City-wide, the annual bill for a single-family home will increase an average of $168 to $4,598, while in Manhattan, it will jump $1,100 to $41,705. Not so fun for homeowners, but great for the city's pocketbook. [WSJ]