The estimated market value of nearly 45,000 homes that are vulnerable to title-related complications, with the vast majority of properties located in Queens and Brooklyn.
The average loss of the 1950 stock per census tract for neighborhoods that were treated under the 1968 Fair Access to Insurance Requirements, which provided insurance to property owners who were denied coverage in the private market.
“Residents in neighborhoods with higher shares of Black residents are disproportionately burdened with higher effective property tax rates compared to their white counterparts. This disparity not only violates the principles of Equal Protection and Fair Housing laws but also contributes to deepening the divide in housing affordability, placing a heavier financial burden on Black households and potentially affecting the long-term value of their properties.”
NYU Furman Center's Matthew Murphy and Ryan Brenner, Racial Inequities in New York City's Property Tax System
