Why do co ops have lower property taxes when they are mostly owner occupied?
When other residential properties are taxed the same whether they are owner or tenant occupied such as condos.
I know for a fact that co op property tax goes up--,maybe doubles--at least in my state-NJ.
+taxes go up if it is more than half renter occupied. This has absolutely NOTHING to do with amenities. A co op can in fact have more amenities that a condo. I know a coop near me that has a pool, while my condo does not. I did not ask about the difference in tax between a condo and co op. I asked about the difference in taxe between a largely owner occupied co op and a largely renter occupied co op.