property tax hikes

Audit finds co-op, condo property values inflated
Audit finds co-op, condo property values inflated
News Melissa Chan 4/17/2012 at 4:07PM

A series of missteps by the Department of Finance (DOF) caused drastic upward swings in co-op and condo property taxes, according to two audits released by the city’s comptroller office. “The department failed to adequately explain significant changes it was making in the calculation of market values. What’s more, in numerous cases, they assigned arbitrary [...]