May 9, 2013

City Council Intro 0188 Will Hamstring Co-op Boards

A bill has again been introduced in the New York City Council that constitutes a grave danger to every cooperative Board and Director of a cooperative.  The bill would place strict limitations on the way the Board responds to an application for purchase of an apartment with strict time deadlines and severe penalties for failure to comply.

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Veterans Property Tax Exemption

There is currently a resolution in the State Legislature (A. 514 /S. 3872) that will amend the State Real Property Tax Law so that the Veterans Property Tax Exemption would be tied exclusively to the assessed value of their home and property.  Such a regulation seems logical and obvious, but currently the veterans’ exemption is tied unnecessarily and unfairly to the local school tax rate, which fluctuates widely from year to year

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