Investigation Shows How Wealthy New Yorkers Benefit From City's Property Tax System

Whether it's sewers, roads, or public schools, the majority of the money used to pay for those services in New York City comes from property taxes. But the way the city determines how much property owners owe is murky. Despite constant calls from activists for reforms and multiple mayoral efforts to overhaul the system in the last 30 years, not much has changed. Now, a Bloomberg News investigation has uncovered just how unfair the system is, and documents how owners of high-valued properties often pay the lowest percentage in taxes.

WNYC's Sean Carlson spoke with Bloomberg reporter Jason Grotto.