94° Good Afternoon
94° Good Afternoon

Mayoral hopeful Malliotakis outlines property tax reform plan, cites inequities

Mayoral candidate Nicole Malliotakis outlined her property tax

Mayoral candidate Nicole Malliotakis outlined her property tax reform plan on the steps of City Hall on Thursday, Oct. 26, 2017. Photo Credit: Laura Figueroa

Republican mayoral hopeful Nicole Malliotakis on Thursday outlined her plans to overhaul New York City’s property tax system, saying that if elected, she would establish a bipartisan panel to develop reforms.

Malliotakis, speaking at a news conference on the steps of City Hall, pointed to differences between her property tax bill and that of incumbent Democrat Bill de Blasio to illustrate what she described as “inequities” that result from the city’s current property tax code.

Malliotakis, a state assemblywoman who lives on Staten Island, paid $5,521 in city property taxes on her home that has a market value of at $549,000, according to 2017 property tax records. Meanwhile, de Blasio paid $3,581 in taxes for his primary residence in Brooklyn that is valued at $1.97 million, according to property records.

Under the city’s current tax code, the city caps how much a property’s assessment can increase from year to year to 6 percent. Activists who have been calling for a change to the code say the current law benefits property owners in booming communities such as de Blasio’s Park Slope neighborhood, because those property owners end up paying proportionally less in taxes than property owners in other outerborough neighborhoods that are experiencing slower growth.

“Four years ago, Bill de Blasio ran on a platform of closing the gap in the ‘Tale of Two Cities’ but he has done nothing to close it and seems perfectly fine with lower income middle class New Yorkers subsidizing the homes of millionaires, including his own,” Malliotakis said.

Asked about Malliotakis’ remarks, de Blasio campaign spokesman Dan Levitan said in an email that the mayor “has said the property tax system in New York City is fundamentally broken and unfair, and he looks forward to working together with communities across the City on sensible reforms.”

Aside from convening a panel of lawmakers and tax experts, Malliotakis said she would cap the city’s tax levy — the amount of money the city can collect from taxpayers — during her first year in office.


We're revamping our Comments section. Learn more and share your input.

News photos & videos