Cityâs Property Tax Reform Commission Hosting Brooklyn Hearing This Week East 25th Street in East Flatbush. (Image: Liena Zagare/Bklyner) A panel seeking to simplify the cityâs notoriously byzantine and inequitable property tax system is seeking public input on its draft recommendations. The New York City Advisory Commission on Property Tax Reform will host a virtual hearing specifically for Brooklyn residents at 6:00pm on Thursday, May 27th, where attendees can testify in reaction to a set of recommendations first published last year, shortly before the COVID-19 pandemic put the process on ice. Property tax reform has been a political hot potato for decades. Unlike most of the state, New York City doesnât assess such taxes based on a homeâs full market value. Instead, since the end of World War II, the city has used a confusing system that separates properties into multiple classes and values condos and co-ops according to the cost of nearby rentals, even if those rentals are subject to rent stabilization.