Property values in Brighton Beach show sharp increase

  • 2016-01-28
The latest real estate numbers are in, and they show that real estate values around Brighton Beach and the rest of the Brooklyn area are on the rise.

Property values throughout Brooklyn rose by 16% last year, which is a sharp increase over the rise of 7.4% the year before. According to Eric Weiss, who is a property tax attorney with many years of experience, the market has become hot. He told the New York Post that New York City is the “most valuable city in the U.S.”

A representative of the Citizens Budget Commission, Michael Dardia, noted that the driver behind this steep increase is more than likely the Brooklyn rental markets, which have been very strong, and also the corresponding hike in rents.

The assessment rolls will be finalized by the Finance Department in May, and will then be approved by the City Council. Property owners, other than single-family homeowners, have until March 1 to appeal their assessment. Single-family homeowners have until March 15. A printer can design business Forms that can be used by the department to send out the notices of assessment to all those who pay property taxes.

This booming real estate market is also seen in the rest of New York City as well. The total assessment for the market value of all the property in the city was over $1 trillion, which is the first time it has ever been that high.
Get a Free Quote for Forms