Property Tax Research in NYC [Proposal]

Student Name: Xinge Zhong(viola), Github account: xingezhong, NetID: xz1809

Part One: Problem Description

There are always reports saying that NYC's property tax system favors the rich than the poor. But I still hold my query. Figure1-figure3 below are created by Max Galka, they are the most frequently quoted evidence online.

Property Tax = Property's Assessed Value * Tax rate.

Figure1 and figure2 try to convince us that the Assessed Values, which is set by the government,are not reasonable. But only extreme cases were represented. While what I'm caring about is whether there exists general deviation in the assessed pricing model, I will remove these outliers in my research.

Figure4 is our hack day's project map, which was said that contains contradiction. Here I would like to clarify that figure3 and figure4 share the same problem. Luxury building seems like with lower tax rate, but this is because they usually contains more residential units than low price house, which certainly lead to tax class with lower tax rate.

As for the income level per zipcode, currently I don't plan to use this data. Considering the high liquidity of renters, they are everywhere in our city and their income was calculated into the zipcode, this could be a disturb rather than help in our research.

Figure1: Assessed Price VS Actual Sale Price