New Tax Cap Horror Story

What: A billionaire’s $238 million condo in Manhattan is taxed at 0.22%, the same rate as the lowest, property tax rate in the country, Laredo, Texas

How did this happen: a tax cap

What has been the response: City Commissioners are proposing to eliminate the caps + have all homes are assessed and taxed at full-market value

Habitat | Billionaire’s Condo Taxed at Rate of Laredo, Texas