Property Tax Increase- Press Conference

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Forwarded Message:
Subj: Subject: Property Tax Increase - Press Conference PRESS ADVISORY
Date: 3/19/2005 10:29:57 A.M. Eastern Standard Time
From: HDFCCenter
To: Rosen.Benjamin@gmail.com
CC: wrightk@assembly.state.ny.us



Benjamin Rosen

Have received the the press release on the Property Tax relief legislation to be announced by my good friend Assemblymember Wright.

I realize this legislation is aimed to give relief to the class 1 homeowners which is very laudable and we are prepared to strongly support.

However, the greatest numbers of home-owners in the 70th District are the shareholders of cooperatives, particularly HDFC cooperatives, class 2.

A couple of facts that I would like to make sure Assemblyman Wright know, are the facts that
class 1 homeowners are taxed based on 8% of the assessed value to their property. DofF assesses property values and has been increasing the assessed values as our neighborhoods have "improved", (crime down, property values up, more affluent people moving in).

The cooperative apartments HOME-OWNERS are even more perversely affected, in that they are treated as rental property, are taxed at 45% of assessed value. Which means that cooperative apartments HOME-OWNERS are paying on 5 times higher valuation.

The basic rate is the same but the tax burden for cooperative apartments HOME-OWNERS is very unfair and disproportionate not to say discriminatory. Cooperatives are not just the homes of RICH people, cooperatives are the HOMES of medium and low income families of all races and ethnicities, but in Upper Manhattan and in particular District 70, HDFC cooperatives are the predominant type of cooperatives owned by mostly Black and Latino families.

I want to make sure that my friend Keith Wright remembers that the greater bulk of home-owners in Harlem and the City are cooperative apartment HOME-OWNERS.

Although there is a Cooperative Tax Abatement Program in place that has been extended, most HDFCs are not permitted to take advantage of it becasue they receive an upwardly scaled tax exemption called the DAMP Exemption, applicable only the HDFC cooperatives that came from one of HPD's Div.of Alternative Management Programs, but not to other HDFC cooperatives so only the non-DAMP HDFC cooperatives can take advantage of the Cooperative Tax Abatement.

I am available to discuss this matter and provide the necessary documentation in support of my above statements.

I am e-mailing these comments to you as it is unlikely that I will be able to make it to the press conference to lend my support but I do want Keith to know of mine and the HDFC Council's support and our ardent desire to be remembered as HOME-OWNERS as well and of the discriminatory and onerous differential treatment given one type of home-owners versus another type of home-owners.

Regards

JRM

Jord (George) Reyes-Montblanc
President
The HDFC Council
Visit Our Web Forum : http://forums.delphiforums.com/HDFCCentral/start

Tel: (212) 862-5051 or 862-2648
Fax: 212-926-1765 or 283-5961
E-mail: HDFCCenter@ aol.com

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New York, NY 10031-8101

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In a message dated 3/19/2005 9:02:17 A.M. Eastern Standard Time, surrti@hotmail.com writes:

Subject: Property Tax Increase- Press Conference


PRESS ADVISORY*//*

IMPORTANT NEWS FROM....
*New York State Assemblyman Keith L.T. Wright*
*(70th Assembly District, Harlem)*

For Immediate Release Contact:
Benjamin Rosen
Friday March 18th, 2005
(212) 866-5809
Rosen.Benjamin@gmail.com

> >
> > *Assemblyman Wright and Northern Manhattan Homeowners Announce
> > Legislation to Curb Hefty Real Property Taxation Increases ***
> >> >
> > *New York State Assemblyman Keith Wright *(Central & Western Harlem)
> > will host a press conference along with Harlem homeowners to announce
> > his legislation aimed at ending massive real property tax increases.
> >
> > In response to over 100 Harlem and Bedford Stuyvesant homeowners
> > receiving tax increases of up to 1,000 percent due to recent renovations
> > and resulting tax reclassification, this legislation would effectively
> > cap increases and allow for the dwellings in question to remain in their
> > current tax class.
> >
> > Although NYC Finance Commissioner Martha Stark has instituted
> > administrative solutions to delay these increases, it was only a
> > temporary solution. "This legislation will permanently resolve the
> > crisis put upon many Harlem residents in form of their tax bill. We need
> > to protect our homeowners and ensure incentives for homeownership,
> > especially in Harlem and Bedford-Stuyvesant." said Wright.
> >
> > The Press Conference will be held on* _Sunday March 20^th , 1:00 pm_ *on
> > the steps of *_City Hall._*
> >
> > It would be great if you could attend, hopefully we will get some good
> > press. Please contact me at the above phone number or this email address
> > if you wish to discuss this further. Also, if anyone is willing to speak
> > or send a quote for our press release it would be greatly appreciated.
> > Thank you.
> >
> > Sincerely,
> > Benjamin Rosen
> > Special Assistant
> > Assemblyman Keith Wright (70th AD)