Co-op / Condo News: Taxes About to Skyrocket, Battling Condo Arrears, More
June 25, 2012 — Recent news affecting co-op / condo buyers, sellers, boards and residents. There's no other news more important this week than New York State legislators and Governor Andrew Cuomo letting the co-op / condo tax abatement expire. This, in a state where every other form of residential property gets an annual cap on tax increases. But there's a sliver of a silver lining — read the second article below and contact your representatives.
Also this week, New York City condos go on the warpath to collect arrears — read about some of the tactics now becoming commonplace. Plus, what's with all those condo boards acting like co-op boards, requiring hundreds of pages of buyers' financial data? A broker breaks it down. And did you know boards can't stop residents from operating day-care centers in their apartments?
Read all the latest co-op /condo news for buyers, sellers and board members in Habitat's weekly Monday News Roundup. Also included: Permanent archival links. If a link ever goes dead, you'll still be able to read the backup at WebCitation.org.
Co-op / Condo Buying, Selling, Living...
- "Co-op and Condo Owners Facing Tax Smack" after governor and state legislators fail to extend tax abatement, by Erik Kriss (New York Post)
- "Cuomo to Call Lawmakers Back to Consider NYC Property-Tax Rebate" by Freeman Klopott (Bloomberg.com)
- "Good and Bad News for State's Tax Abatement Law Plans" by Jill Urban (NY1 News)
- "The White Gloves Come Off: Delinquent Condo Dwellers Feel the Pain" by Kim Velsey (The New York Observer)
- "Parkway Village [Co-op] Listed on National Historic Register" by Steve Mosco (Queens Times Ledger)
- "A Day Care Business in the Co-op Above" by Jay Romano (The New York Times)
- "HUD's Donovan: Via Verde a 'Model' for Affordable Housing" by Jacqueline Hlavenka (GlobeSt.com)
Co-op / Condo Board Issues...
- "The High Road: Condo Applications Make No Sense" by Malcolm Carter (Service You Can Trust blog)
- "Sponsor Withholds Maintenance" by Jay Romano (The New York Times)
WebCitation archives:
Tax Smack • Cuomo • Good and Bad • White Gloves • Parkway Village • Day Care • Via Verde • Condo Applications • Withhold Maintenance