Thank you for signing and sharing the petition. Your engagement matters to our advocacy efforts, and we hope you will consider joining us on zoom on Wednesday, February 12 at 6pm as we discuss how to ENGAGE to IGNITE CHANGE AND PROTECT OUR HOMES: Register on Zoom - All Homeowners are Welcome!
While there has been no movement so far on the legislation to introduce fees of $55/apartment/year for containerization, it is likely that the bill will proceed to a hearing, so please consider continuing to share the petition with your networks by copying and forwarding the link.
In 2024, the New York City Independent Budget Office (IBO) suggested a “Pay as You Throw” waste collection tax as a way to generate additional revenue for the City.
The City Council did not introduce matching legislation for IBO’s “Pay as You Throw” recommendations, and it seems likely that the $55/unit fee in the bill we are currently contesting was meant to provide the desired revenue stream instead.
This is but one example of how the City Council is striving to maximize the revenue stream through the use of fees and fines.
Unfortunately, this a methodology is extremely harmful to co-op and condo homeowners, who do not enjoy the same carve outs as homeowners in single-family homes, and are left with the weight of supporting the City.
Other ideas that will likely be up for consideration in the near future include:
-Revising the co-op/condo tax abatement to place an assessed value cap or geographic cap on those that receive benefits (this would likely bar Manhattan co-op and condo homeowners from receiving the abatement, along with those in parts of Brooklyn and Queens)
-Imposing penalties on buildings for failure to quickly correct failed facade inspections based on assessed value, with a maximum fee set at $150,000.
-Extending the mortgage recording tax to apply to co-ops
-Establishing a stormwater utility fee
And, for buildings 25,000 square feet and larger, that must comply with LL97, there is currently a late filing fee of $.50 per square foot per month that will burden many buildings…. To understand the minimum fee that would mean to you as an individual homeowner, multiply the size of your apartment by $.50 - my apartment is approximately 1,100 square feet, so my portion of a monthly late fee would amount to at least $550 / MONTH! You can watch our explanatory video on YouTube:
What do LL97's Late Filing Fees Mean to NYC Homeowners?
If you have any questions, please feel free to email me at poole@cnyc.coop.
Thanks for standing together to help protect our co-op and condo homes.
Best,
Rebecca