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| | City Project | Commentary | Absentee Landlord Surcharge |
 | | The Absentee Landlord Tax, as it is known, is expected to generate at least $44 million in much-needed revenues for the city in its first full year, to help close looming budget gaps of at least $1.8 billion, $3.4 billion, and $3.9 billion for Fiscal Years 2005 - 2007. |
 | | And even with the Absentee Landlord Tax Surcharge, they will, in fact, continue to be taxed at a lower rate, on a smaller portion of the assessed value of their properties, and have tax increases phased in more slowly, than owners of other residential properties, including co-op and condo homeowners, and all commercial owners. |
 | | Finally, for tax purposes, to paraphrase Gertrude Stein, an absentee landlord of residential rental properties is an absentee landlord of residential rental properties -regardless of the number of rental apartments or size of the building. |
| www.cityproject.org /commentary/AbsenteeLandlordSurcharge.htm (740 words) |
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