Deputy Speaker Williams round 2: Mangin on property tax inequity and black homeownership
Williams cites NYU Furman Center research showing black homeowners face higher effective property tax rates. She challenges Mangin's written response that housing scarcity drives tax increases. Mangin acknowledges the inequities in the property tax system but argues the housing shortage also hurts homeowners through runaway costs.
NYU Furman Center found that homeowners in neighborhoods with larger black populations face higher effective property tax rates than homeowners in neighborhoods with larger white populations.
It estimated that homeowners in the quartile of neighborhoods with the largest black population shares would have paid about $17 million less per year if they faced the citywide average effective tax rate.
And so you wrote about this in some of your responses to the council.
And so just wanted to know if you agree that property tax inequity is a genuine pressure on black home ownership.
Thank you for the question.
I feel like I'm not familiar enough with that particular research to answer on the fly right now.
You look at NYU, Jonathan.
Why do you not know about the first sentence?
But I completely agree.
I'm very much aware of the...
Difficulties and and in inequities within the property tax system
without being as familiar with them as I could be yeah and the reason why I asked is because in your written response you say that in the city with enough housing homeowner tax increases would be more moderate and so it was just trying to understand how you arrive to that
response because I guess
And I don't think housing scarcity is the only issue.
I think that New York's inequitable property tax system is also a problem that has nothing to do with housing scarcity and the lack of political will, both from previous administrations,
both state and city are part.
Blame for our property tax system.
Thank you for the question.