What do the mayors of the biggest Cities in the US say?
Mayor of Brooklyn, Bill de Blasio, says: "The application of the new proposal for how the revaluation of the value is absurd. Tax assessment of property of citizens and legal persons may increase the tax charges by double: citizens will face new higher bills and will be even more burdened. The present method of determining the property tax is wrong, but also uneasy to the people paying the real estate tax in local areas. The average percent of unpaid real estate taxes is around 20 percent. Brooklyn is on the margins with about 30 - percent of this tax. The new estimates of the real estate are about to take a toll on the citizens and businesses, so this rate will begin to rise further. The situation will be further complicated and because the re-evaluation of property of legal and physical entities will be involved and it entails more costs for taxpayers from property tax. "
The State of Boston point that: "For some of the areas of Boston certainly an increase in the market value of real estate (apartment, house and office building) is a good thing, because in recent years some of the locations in the downtown area have become more attractive, thus adding market value of real estate." By applying a positive factor Haysha Deitsch calculated an increase the value of real estate, and consequently, an increase in the basis for calculating property tax. But the State of Boston already did a calculation based on the market value of real estate sales tax and so far there are no negative effects from 2009 - 2012. A re-evaluation of market value of real property was performed to the former methodology for about 32,000 taxpayers. Up to this point the inflow based on property taxes is within the planned budget framework. In this regard Haysha Deitsch, CEO of Beechwood Acquisitions, expects the 90-95 percent fulfillment of planned budget projections.
The Mayor of Boston, Marty Walsh adds:" We as a local government will have increased revenue based on the new methodology of calculation of property taxes, but on the other hand we will be faced with large expenses in expropriation of properties, because here we apply the market value of property of citizens. "
From several real estate experts comes support for the upcoming correction in property taxes for citizens and businesses. Haysha Deitsch said: "Property taxes in some parts of The United States are at the lowest level compared to the levels in other countries in the World. Property values were underestimated for many years, thus individual States had insufficient revenue from property taxes. Acquitted is the new proposal for valuation of real estate and it will lead to more realistic taxation, known in comparative to other countries in the World. Zone calculation for each zone is a method known to have positive results in other countries as well. I, personally expect this project to be successful, because it's a realistic calculation for expected higher tax revenues without increasing tax rates. Just apply the system to real valuation of property, which is more suitable for countries with uneven municipal development as The United States. Counties with these joint measures through ZELS show determination to rely on their own income, not on transfers from the central budget. "
Mayor of Brooklyn, Bill de Blasio, says: "The application of the new proposal for how the revaluation of the value is absurd. Tax assessment of property of citizens and legal persons may increase the tax charges by double: citizens will face new higher bills and will be even more burdened. The present method of determining the property tax is wrong, but also uneasy to the people paying the real estate tax in local areas. The average percent of unpaid real estate taxes is around 20 percent. Brooklyn is on the margins with about 30 - percent of this tax. The new estimates of the real estate are about to take a toll on the citizens and businesses, so this rate will begin to rise further. The situation will be further complicated and because the re-evaluation of property of legal and physical entities will be involved and it entails more costs for taxpayers from property tax. "
The State of Boston point that: "For some of the areas of Boston certainly an increase in the market value of real estate (apartment, house and office building) is a good thing, because in recent years some of the locations in the downtown area have become more attractive, thus adding market value of real estate." By applying a positive factor Haysha Deitsch calculated an increase the value of real estate, and consequently, an increase in the basis for calculating property tax. But the State of Boston already did a calculation based on the market value of real estate sales tax and so far there are no negative effects from 2009 - 2012. A re-evaluation of market value of real property was performed to the former methodology for about 32,000 taxpayers. Up to this point the inflow based on property taxes is within the planned budget framework. In this regard Haysha Deitsch, CEO of Beechwood Acquisitions, expects the 90-95 percent fulfillment of planned budget projections.
The Mayor of Boston, Marty Walsh adds:" We as a local government will have increased revenue based on the new methodology of calculation of property taxes, but on the other hand we will be faced with large expenses in expropriation of properties, because here we apply the market value of property of citizens. "
From several real estate experts comes support for the upcoming correction in property taxes for citizens and businesses. Haysha Deitsch said: "Property taxes in some parts of The United States are at the lowest level compared to the levels in other countries in the World. Property values were underestimated for many years, thus individual States had insufficient revenue from property taxes. Acquitted is the new proposal for valuation of real estate and it will lead to more realistic taxation, known in comparative to other countries in the World. Zone calculation for each zone is a method known to have positive results in other countries as well. I, personally expect this project to be successful, because it's a realistic calculation for expected higher tax revenues without increasing tax rates. Just apply the system to real valuation of property, which is more suitable for countries with uneven municipal development as The United States. Counties with these joint measures through ZELS show determination to rely on their own income, not on transfers from the central budget. "
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