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NYC Landlords Owe The City $555 Million
By
Rebecca Fishbein
Published Mar 13, 2014
Modified Mar 13, 2014
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By
Rebecca Fishbein
Published Mar 13, 2014
Modified Mar 13, 2014
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If you're wondering what happens to your rent money after you reluctantly pry it from your bank account every month, it is probably not going towards paying taxes—apparently, landlords collectively owe the city over $555 million in bills and back taxes. And yet no one's taping an eviction notice to their doors! Nothing will make you like your landlord.
The Post reported today that the owners of 20,898 buildings across the city have fallen behind on taxes, water bills and emergency repair bills, collectively owing the city a hefty chunk of change. According to the Department of Finance's most recent 60-day lien sale list [pdf], Brooklyn landlords are unsurprisingly the biggest offenders, owing $212.8 million to the city; one Clinton Hill building alone owes $9 million, having neglected to pay taxes or water bills for the last 20 years.
And it turns out that landlords owe the city less money than they owed last year, noting a 24 percent decline in owed bills and taxes since May 2013 [pdf]. Apparently the property owners managing those fancy new developments are more capable of covering taxes and repairs, which makes sense if you're charging $3,000 for a studio in Bushwicksburg.
Tagged
department of finance
landlords
rent
taxes
Rebecca Fishbein
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