From Bloomberg
Photo of Christopher Berry

Harris Public Policy Professor Christopher Berry was featured in Bloomberg, discussing his new research into regressive property taxes in New York City – the latest in his Property Tax Fairness project at the Center for Municipal Finance

"Independent property-tax experts have used sales-ratio studies to examine New York; one of the most recent found that flawed valuations for condos shift roughly $292 million in annual property taxes from the top 10% of such residences by value to the remaining 90%. The author, Christopher Berry, a professor at the University of Chicago’s Harris School of Public Policy, found an even larger such shift for single-family homes: $450 million," wrote Bloomberg.

“It would be a huge wealth transfer, and that’s where I think the real obstacle to reform comes from,” Berry said. “There is a loud and clear message for places that are not New York: Get a handle on these problems before you reach the point New York has reached.”

Full coverage available at BloombergThe Property Tax Fairness project also appeared recently in Chicago Agent Magazine