According to Elliott Meisel, an attorney with Brill & Meisel in Manhattan, condominiums and co-ops, many of which are new construction, are getting assessed at new, very high rates.
"So they start off at very high rates," says Meisel
, "where even if there is an intent to bring the preexisting private homes to an equitable equivalency, it would take many years because they can only increase the [assessed values] on those properties [six percent annually].
"Too many makeshift band-aid efforts to fix the law have probably increased the inequity rather than diminished it," says Meisel
"I don't think they will allow the current system to expire without some other change," says Meisel