Appendix: 1996 RGB Price Index of Operating Costs (PIOC)

IV. Percentage Change in Real Estate Tax Sample by Borough and
    Source of Change,  Apartments and Hotels, 1996

Percent Change
Due to:                      Assess-   Exemp-   Abate-    Tax    Inter-     %
                              ments    tions    ments     Rate  actions   Total

Apartments
==========
Manhattan (Below 96th St)      0.58%    0.56%   0.22%    2.33%    0.03%    3.72%
Manhattan (Above 96th St)     -1.13%    0.22%   0.26%    2.65%   -0.02%    1.98%
All Manhattan                  0.44%    0.53%   0.23%    2.36%    0.02%    3.58%
Bronx                         -0.81%    0.30%   0.17%    2.71%    0.01%    2.38%
Brooklyn                      -1.82%    0.44%   0.18%    2.63%   -0.03%    1.40%
Queens                        -0.82%    0.32%   0.29%    2.60%   -0.01%    2.38%
Staten Island                 -4.10%    0.45%   0.74%    2.52%   -0.08%   -0.50%

Total                         -0.21%    0.46%   0.23%    2.47%    0.01%    2.96%


Hotels
======
Hotels                         0.53%    0.28%   0.00%   -1.41%    0.00%   -0.60%
Rooming Houses                 3.81%    0.00%   0.01%    1.69%   -0.02%    5.50%
SROs                           0.87%    0.03%  -0.08%    1.06%    0.01%    1.89%

Total                          1.29%    0.13%  -0.03%    0.18%    0.00%    1.57%


Note: Totals may not add due to rounding.