Blecher_onthe_Hudson t1_iu0lsnj wrote
Reply to comment by mbstor23 in If you think taxes are high now, just wait until the 2023 school budget. People will be priced out of their homes. by mbstor23
But by how much? Lets say there's a 3 family worth $1m and taxes go up 0.3%. That's an extra $3k, or $83 per month per unit. More, but not devastating by itself to most renters.
mbstor23 OP t1_iu0lzl9 wrote
That sounds about right, TBH. Point being is there will be rent hikes. Renters should not assume that property tax hikes are only a property owner’s problem.
Blecher_onthe_Hudson t1_iu0njeu wrote
Of course, but if they're rent-controlled then they might be well protected since the city uses CPI and don't take taxes into account as far as I know for allowable rent increases.
mbstor23 OP t1_iu0y8zs wrote
Very few are actually lucky enough to be in a rent-controlled apartment. They should count their blessings that they’re well shielded from this massacre. For everyone else renting at market rate or a homeowner, you’re all getting fucked.
Rent controlled apartments are a very small part of the overall market.
Mindless-Budget9019 t1_iu0q0v9 wrote
Landlords can apply for a hardship increase in order to increase the rent past 4%. There are a few rules around that though.
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