Renters get stuck with lion’s share of taxes

Owners of large apartment buildings in the city are bearing more of the property tax burden than owners of one-to-three family homes, according to a report released on Monday. On average, New York City’s tax on apartment buildings, which include rentals, condos and co-ops, is the second highest among the 50 largest cities in the country, ranking coming in only after Detroit, according to an NYU Furman Center for Real Estate and Urban Policy report titled “State of New York City’s Housing and Neighborhoods 2011.”

Crain’s New York

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