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NYC new construction condos & property taxes

Hey guys,

Fairly new homeowner here of a Condo in Brooklyn ( I bought about 2 years ago) - I recently received a notice of property value for the upcoming 21-22 tax year and I was surprised to find an additional +10% adjustment in market value owing to a "structure change due to new construction" even though the building is now 3+ years old.

Is this normal? I had assumed any new construction related tax increases would have been accounted for last year but I could be misunderstanding how this system works.

submitted by /u/exswoo
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source https://www.reddit.com/r/RealEstate/comments/l90zzq/nyc_new_construction_condos_property_taxes/
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