Rising Rates And New Budgets To Make Paying Property Taxes More Difficult
Rising Rates And New Budgets To Make Paying Property Taxes More Difficult
Abstract
Rising Rates And New Budgets To Make Paying Property Taxes More Difficult By Admin Thursday, June 16, 2022 Big government budget hikes, and historic Fed interest rate increases are compounding other factors to make it even more challenging for New Yorkers to keep up with property taxes. Homes will effectively be many times more expensive to buy and hold. This all comes on top of other inflation and price hikes. The record high new budget means a $4B annual shortfall in funds between now and 2026. The new budget also mean a $5.3B annual deficit in funds. New government budget also means a $4b annual shortfall. The governor has also declared $3.3M in the school budget.