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And the real estate news keeps coming. Along with rising heating, water and gasoline bills, New York homeowners can now look forward to the second highest increase in housing taxes in 14 years. According to figures given to the Times by the City Council's Finance Committee the tax rates for one-, two- and three-family houses will be increased by 4.3 percent, while the rate on condos, co-ops and rental buildings will go up by 1.5 percent. Further, these increases will go up retroactively back to July 1. Why the sudden jump in housing taxes? Because housing taxes are now directly related to the price of commercial real estate and if one goes up faster than the other, i.e. the current housing boom, than the faster rising one has to take a bigger brunt of the taxes (got that?). How does the Bloomberg administration talk its way out of this one? It falls back on the "$400 housing rebate," which, admittedly for the average homeowner, does negate the increase.
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From www.mikebloomberg.com:
From the official press release at www.ci.nyc.ny.us:
So this means that to qualify for the affordable housing, two equal-earning roommates could not make more than $18,840 each (about $9.50/hour). Otherwise, your only choice are these prices:
From www.avalonchrystieplace.com:
The real kicker is that the affordable housing units will mostly be in a separate building across the street. This building is supposed to be one block south of CBGB. If you've seen the lot there, you'll see that it's empty. It hasn't even been built yet.
I wish all the poorass bums like Blike would move to Staten Island. I can care less about people that can't afford to live in Manhattan. If they want to live here then get a a real job. Being a hipster does not give you the right or priviledge to live here. Quit complaining.
Troller, your comment sums up your ignorance brilliantly.
I live on the Lower East Side, and I have a good career. And I'm a New Yorker who pays taxes to fund these developers--and when they take the money and run, that gives us all a big right to complain.
If people can't afford a $2595/month studio apartment, does this mean that they're "poorass bums" without a "real job"?
For housing to be considered affordable, it should cost 35% of your take-home pay. This means that for someone to afford a $2595 studio, they'd have to make approx $130,000/year.
According to your twisted, suburban yuppie logic, if people make $65K/year, you call them "poorass bums" without "real jobs." They're called middle class, genius.
Ultimately, this is not about who makes what, and who "deserves" to live in the city.
This is about the fact that Bloomberg gave millions of our public tax dollars to the Avalon Chrystie developers, specifically as an incentive for affordable housing for the middle class. The black-and-white information shows that you either have to make six figures or be dirt-poor to benefit from the Avalon's tax kickbacks. Thus, for most New Yorkers, we can expect Bloomberg's future housing plans to NOT CHANGE A DAMN THING FOR MOST OF US.
Have you considered middle class in NYC is different than middle class in bumblefuck? Maybe people paying more than 35% of their take home salary is over reaching? Obviously plenty of people are willing to pay $2595/month for a studio so they can price it at whatever they want. Government giving developers tax breaks to developers is nothing new. The return on investment is infinitely greater. Richer people make more and larger purchases which increases city's tax revenue. Newer larger developments pay more property tax than dilapidated railroad walkups.
Troller, you obviously haven't lived in New York very long. Prices weren't always like this. The rise in housing costs outpaced inflation and income by many times. The rapid inflation in price started happening about 15 years ago. I admit this is not the fault of the mayor.
But it is the fault of the mayor for not effectively doing anything about it, as the mayor DOES have power to help tame, if not reverse this trend. One thing's for sure--giving millions to develpers who make super-expensive apartments doesn't help the middle class.
The median income on the LES is about $63K. For the entirety of Manhattan, it's about $70K.
(Just in case you didn't understand, median means "middle.")
The Census Bureau says the median income for the Northeast is $48K. The median income for Troller's hometown in the midwest is about $44K.
Troller is right; government giving tax breaks to developers is nothing new. However, Bloomberg is telling middle earners that he's going to make housing affordable for them. This is simply untrue.
Bloomberg is taking millions of middle-earners' tax money (which is the largest paying sect, by far), and funneling it into these developments that do not give back to the very people who paid those taxes.
Some people will agree with Bloomberg's tactics. And some will disagree. Troller obviously LOVES Bloomberg's methodology. Troller is entitled to his opinion, and obviously I can't change his mind.
But I'm just here telling the truth. And you, Mr. Troller, are simply barking at me for bringing it up, but we all notice you never denied that Bloomberg is doing this.
These actions by Mr. Bloomberg go against the core of middle-class Democratic values, and if 80% of voters are Dems, they need to take a good hard look in the mirror and ask themselves where their hearts are.
PS--If they're so well off and have money coming out of every orifice, why do rich people need subsidies from the middle class? I'd be fine with the Avalon if it didn't eat up so much public money.