Flawed NYC Property Assessments Hiked Taxes: Comptroller

Law360, New York (April 13, 2012, 2:29 PM EDT) -- Thanks to flaws in New York City's system for computing property assessments and the Department of Finance's failure to properly communicate with homeowners, many experienced dramatic property tax increases last year, according to two new audits released Friday by Comptroller John Liu.

Through a reliance on its computer assisted mass appraisal system, the DOF made many assessments based on inappropriate comparisons, such as the assessment of a co-op on Staten Island based on its comparison to an adult care facility or that of a condo building...
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