Herman Katz Cangemi Wilkes & Clyne would like to share that two of its partners, David Wilkes and Warren Dubitsky, have recently contributed an article to Bloomberg Tax. Their piece, titled “NYC Property Tax Report Is a Roadmap That Offers No Easy Paths,” offers an opinion of New York City’s complex property tax system and the challenges inherent in reforming it.

The article delves into the intricacies of the NYC property tax structure, particularly in light of a 2021 report by the New York City Advisory Commission on Property Tax Reform. This report, while highlighting the system’s opacity and suggesting reforms, falls short in addressing the entrenched issues and varying expectations of different property stakeholders. Wilkes and Dubitsky argue that any modification to this decades-old system is likely to have unpredictable consequences, especially considering a significant case pending before the state’s highest court.

To read the full article and gain a deeper understanding of the challenges and potential paths forward in reforming New York City’s property tax system, visit news.bloombergtax.com.