Joann McPike

Founder - THINK Global School.

[Bill Ackman @BillAckman]

The @NYCMayor Mamdani pied a terre tax (the PAT tax) will likely reduce overall tax revenues for NY and that’s before considering the capital flight it will cause.

When a NYC home is burdened with an additional annual tax, the home value will decline by the capitalized value of that new tax.

While the PAT tax is set at 5%, it is 5% of the assessed value of the home, which is generally substantially less than its market value. Assessed values are typically a fraction, let’s say 6%-15%, of the market value of a home and/or apartment so economically the PAT tax should be approximately 0.3%-0.75% of the market value of the home.

Using a 4% cap rate, a 0.3%-0.75% PAT tax should reduce market values and annual real estate tax collections by 7.5%-18.75% assuming people believe the tax will be payable annually over the long term.

The impact on current real estate values is not just on owners whose primary residence is elsewhere. As such, the value of all NYC residential real estate is going to decline. This will lead to substantially reduced assessed values and lower overall real estate tax collections.

And all of the above is before considering capital flight as more wealthy NYers leave the city and the desirability of NYC residential real estate declines.

Tell me why I am wrong.

[Dream A Dream @DreamADreamInd]

@joannmcpike, Founder, THINK Global School shares her thoughts on our book 'When We Thrive, Our World Thrives' written by @conniekchung with @vishaltalreja, Dream a Dream staff and programme participants.

#thriving #education #youngpeople #wethrive

[Joann McPike @joannmcpike]

@COsquir Yyy

[Joann McPike @joannmcpike]

@yadapruksachatk @launch_house Happy birthday!

[Joann McPike @joannmcpike]

@nancyhunt @nilerodgers Nothing ugly about that face!!!

[Joann McPike @joannmcpike]

@almightygod Education education education

[Joann McPike @joannmcpike]

@VP Women supporting women!!❤️❤️

[Joann McPike @joannmcpike]

@DrBiden Yes yes yes yes yes yes yes yes yes yes.

[Joann McPike @joannmcpike]

@maats_defenders @HundrEDorg Congratulations! This is great news!!!

[Joann McPike @joannmcpike]

@markmanson A huge transfer of funding from the military to public education especially in underserved communities!!!

[Joann McPike @joannmcpike]

#LISTEN https://t.co/Zvpay6Mmp3 via @YouTube

[Joann McPike @joannmcpike]

Audible to provide free audiobooks for children & teens during COVID-19 pandemic | ZDNet https://t.co/Qabwze0bTf

[Joann McPike @joannmcpike]

I feel such potentiality and possibility as ‘we’.

[Joann McPike @joannmcpike]

It’s time the human race gets its shit together. It’s time we stop living in a dog eats dog world. It has been so destructive and detrimental to our spirits. The panic will come but don’t hold onto it.

[Joann McPike @joannmcpike]

The old paradigm is ‘more is better’. What parts of the old are you going to set down? Consciously and graciously. We cannot go into our fears. We have to hold onto the good.

[Joann McPike @joannmcpike]

This is such an opportunity for humanity to shift on a grand scale. It’s beautifully horrific. Facing our fears with no distraction.

[Joann McPike @joannmcpike]

My heart breaks today for the victims and their families of the mosque shootings in Christchurch. And my heart breaks for New Zealand. Maybe I really am just so naive - I truly believed… https://t.co/8YzFNqfJIE

[Joann McPike @joannmcpike]

THINK Global School has been named one of HundrED’s 100 Top Innovations in Education for 2019 😁🙏🏻
@HundrEDorg @TGSTHINKGlobal

[Joann McPike @joannmcpike]

From the moment we are born until the day we die we are learning. We learn to walk, we learn to talk, we learn to manage people around us, we learn about ourselves, we learn to read, to write, math, history, we learn how to make friends, we learn how to heal a broken heart.

[Joann McPike @joannmcpike]

Something to think about...
#lifeisneverboring https://t.co/kfOM4hiNnN