Co-op Condo Cap

We applaud the compromise – lead by City Councilmember Mark Weprin – to cap the real estate tax increases for Queens Co-ops and Condos at just 10 percent for the next two years while a joint commission from the council and the Department of Finance constructs legislation to properly deal with the taxation process.
We hope that a few co-op board presidents like Bob Friedrich of Glen Oaks Village make their way onto the commission so that shareholders are fully represented.
Mayor Michael Bloomberg remained unsettlingly silent during this ordeal, which could have seen co-op real estate taxes rise by as much as 147 percent. Bloomberg is forgetting that is was Queens voters who put him into office in the first place.
Shame on you for making all those shareholders freak out.