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Luxury Condo Owners Among City’s Worst Tax Scofflaws

Midtown, Manhattan

Tax Scofflaws

A penthouse apartment at One57 has a sky-high $268,269 back tax bill.

May 3, 2018

With pressure rising to reform the city’s out-of-whack property tax system – including a pending lawsuit by a group called Tax Equity Now New York – little attention has been given to a less obvious part of the problem: scofflaws. Billionaires’ Row, Trump Tower, and the Plaza are home to some of the city’s richest people – and some of the biggest delinquent property tax bills on luxury condos, the New York Post reports

A total of 12,804 properties in all four property-tax classes are collectively in debt to the city for $484.7 million, which is actually down from last year’s 13,060 properties that owed $517.2 million. The deadbeats’ bills include $331.7 million for property taxes, $53.7 million for emergency repairs (up by $10.4 million from 2017), another $92.4 million for water bills, and $6.7 million for other charges.

The worst offenders are 2,448 apartment buildings in Class 2 (co-ops, condos, and rentals), which have a total of $190.9 million in unpaid bills, $108.2 of which is property taxes. Next comes Class 4 (commercial buildings), which owe $154.1, followed by Class 1 (one-, two-, and three-family homes), which owe a total of $139.7.

Some of the numbers are eye-popping. Gary Barnett, builder of One57 on Billionaire’s Row, still owns a full-floor penthouse on the 87th floor that was never sold but has an outstanding tax bill of $268,269. At Trump Tower, Dalimar Assets in 32A has an unpaid bill of $183,512, while Kiti International in 48B owes $206,997. At the Plaza, Kondo Enterprises owes a relatively piddling $15,700.

People who are behind on their property taxes and other bills have until May 17 to pay up or work out a payment plan. After that, the liens will be sold, accruing more interest. It’s becoming obvious that the richest of the rich could not possibly care less.

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