Who the ‘gentrification tax’ hurts: Beware unintended consequences

The so-called “gentrification tax” being promoted by a bipartisan coalition of New York City Council members seems, at first glance, to make sense. It’s common, and common-sense, practice in many municipalities around the country for the assessed value — and the property tax — of a home to re-set based on its most recent sale price. Not here.

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