QUESTION
How will new information affect the real property tax forecast and property assessments?
1:06:54
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41 sec
The NYC Mayor's Office of Management and Budget (OMB) will adjust the real property tax forecast and property assessments based on new information.
- The preliminary tax forecast was more conservative than the tentative rule.
- Adjustments to the billable rates will be made as part of the executive budget.
- An expected change in the billable rates is anticipated moving forward.
Justin L. Brannan
1:06:54
The real property tax forecast and then property assessments, so the administration published its preliminary tax forecast prior to the release of the FY 25 tentative role, the assessment role.
1:07:06
Based on the new info, do you have a different outlook on your levy assumptions?
Jacques Jiha
1:07:11
Yes.
1:07:11
We will the assumption was a bit more conservative than the tentative rule.
1:07:18
So we will adjust as part of the executive budget our billable as we go forward in the executive budget.
Justin L. Brannan
1:07:32
So you expect a change in the exact
Jacques Jiha
1:07:34
we expect a change in the