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December 11, 2010

The $1,200 a month garage

Blimey, I knew that New York was expensive but seriously, $1,200 a month just to park your car?

And more if it's an SUV?

The monthly parking rate at The Empire, a condominium building on 78th Street and Third Avenue, rolled up to $1,200 on Dec. 1. The rate -- which may well be Manhattan's highest -- adds up to $14,400 a year. And parking an SUV or another oversize car costs an extra $100 a month. "It's gotta be the most expensive rate in the city," said an Empire employee. "That's more than I pay in rent." Empire rates also look to be about $250 more than those of the priciest neighborhood competitors, according to bestparking.com.

It's stuff like this that makes a mockery of having one taxation system for a place the size of the US. Or even one definition of poverty or wealth. Because any such single, national, system, doesn't take account of the different costs of living in the different areas.

Take, as an example, the fight going on over income taxes. Sure, yes, $250,000 a year as household income is pretty good going. But in New York City, certainly in Manhattan, that doesn't really add up to being "rich". Just as an example, a couple of public sector employees married to each other can get close to that sort of level: and I'm not talking about senior managers either. A subway train driver married to a bus driver will be getting up to that sort of level if they've both got a bit of seniority.

Rich does really rather depend on expenses as well as incomes....

December 11, 2010 in Taxes | Permalink

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