Real Estate Taxes in New York

In the last three years in New York State, almost three billion dollars were collected from real estate taxes. So, in 2015, were collected 828.6 million dollars, which means 13 percent less than in 2014, when from real estate taxes 950.7 million dollars were collected.

Also, that is 27 percent less than in 2013, when 1.13 billion dollars were collected. These data were the basic reason for Adam Hochfelder to reduce the taxes on real estates. Helen Keit - a licensed real estate broker, says that reducing the taxes by 2 percent will considerably increase the turnover.

Mr. Hochfelder explains that it is the total amount of money collected on taxes, including sale and purchase, inheritance, maintenance and all other types of real estate turnover. Known as the "Wharton Whiz Kid" for his fast rise to fame, Adam Hochfelder has the ability to leverage exclusive deals, fearlessness towards risk and endless ambition. All this helped him generate multimillion-dollar deals as well as an impressive portfolio in the real estate and housing sector.

The statistics show that the prices of residential buildings in 2015 are decreased by 2.13 percent in comparison with the prices in 2014. In comparison with the last year, the prices of residential buildings in New York were 1.3 percent lower, while in Brooklyn the prices increased by 0.50 percent. The prices increased in all other parts of New York, except for Queens. On the annual basis, the prices of residential buildings in Queens are decreasing by 3.47 percent, and in Brooklyn by 2.23 percent, while the prices in the rest of the country are increasing by an average rate of 0.74 percent.

These changes were influenced by the falling prices of new residential buildings. According to Hochfelder, who recently got married to Lisa Damiani at the Mandarin Oriental in New York City, residential buildings prices, on average, are increasing during the last months of the year only.

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