(l-r) Latham & Watkins partners Jimmy Brandt and Michael Bern and of counsel Jonathan Lippman, the former Chief Judge of New York. Courtesy photos Latham's 7-Year Fight to Reshape New York City Property Taxes
The firm won a ruling from New York's high court last month finding the city's property tax system was "unfair, inequitable and has a discriminatory disparate impact on certain protected classes of New York City property owners."
April 24, 2024 at 07:30 AM
6 minute read
When a team from Latham & Watkins filed a long-shot challenge to New York City's property tax system back in 2017, they brought the data: Homeowners in Canarsie, a majority-minority neighborhood, were paying effectively three times the tax rate charged their Brooklyn neighbors in wealthy, majority-white Park Slope. Some upscale cooperatives valued at $4,500 per square foot were being taxed as if they were rent-regulated apartments worth $188 per square foot.
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