The Commons

The Commons Earth or Nature

(ground, water, air, frequencies, ...)

Cultural heritage(money, language, art, knowledge,

customs, ...)

Money (shared medium of exchange)

7 Subway Extension

nyc.gov/dof

nyc.gov/dof

nyc.gov/dof

nyc.gov/dof

nyc.gov/dof

nyc.gov/dof

nyc.gov/dof

nyc.gov/dof

nyc.gov/dof

Level of Assessment:

The % of market value used to calculate your property’s assessed value. Also known as the assessment ratio.

Tax Class 1 – 6%

Tax Class 2, 3 and 4 – 45%

nyc.gov/dof

average return on current land price:5% / year

$ 1,000,000,000,000x .05

$ 50,000,000,000

nyc.gov/omb

nyc.gov/dof

nyc.gov/dof