Professor Christopher Berry Discusses Regressive Property Taxes in New York

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 Bloomberg. The Property Tax Fairness project also appeared recently in Chicago Agent Magazine.