I am treasurer for my Manhattan condo- so I am able to answer your question.
Let's be clear- first off, if you buy a condo or a coop- you are an owner- there is no landlord. Assuming there is no sponsor (typically the developer of the building) still involved in the building- the Board of Managers is made up of fellow owners that volunteer to help run the building (typically higher level policy decisions) . The Board of Managers in conjunction with the Managing Agent (which deals with the day to day management of the building and may provide guidance on policy decision) figure out the cost structure to run the building.
The monthly fee's that you pay for things like elevator maintenance, the super, heat, water, etc and compliance with NYC building code requirements that change every year- and are extremely expensive. So when the Board of Managers increases the monthly Common Charges or Maintenance, it's rarely because they want to but because they have to. The cost of Water alone has been increasing by 15% a year for a number of years now. Remember the Board is compromised of fellow owners- so they are voting to increase their own costs as well.
If you buy a co-op, most buildings have a mortgage- which helps the building undertake large projects easily. Maintaining a building in a city is far more complex than maintaining a townhouse community out in the suburbs. This mortgage component is seperate from the mortgage you would seek to purchase an individual apartment. This is different from a condo, where it is very uncommon (though not impossible) for the building to take out a loan/mortgage. Typically in a condo the building should either have reserves to account for these large projects (with the money funded as part of your common charges) or via a special assessment. One way or another if you were to compare two apartments side by side- identical in all ways except one is a condo and one is a co-op, the monthly maintenance vs. common charges+property tax should be rather similiar.
When you are dealing with NYC, it is imperative you do not take advice from anyone outside NYC, whether the suburbs or another state. There are many nuances here that are very different than anywhere else.
In NYC, we don't have "HOA." There are two kinds of apts. you can own: co-ops and condos. In a co-op, you don't technically own real estate. You own shares of the corporation that entitle you to occupy the apt. Your monthly fee is called "maintenance" which is made up of 3 components: your share of the underlying mortgage, your share of the real estate taxes, and your share of the upkeep of the building. The underlying mortgage is the mortgage the developer took out to buy the rental building and convert it to apts. you can buy. In the alternative, when you own a condo, which is also an apt. here in NYC, you actually own real estate. Therefore, the monthly charges are different. You pay two separate charges: real estate taxes and common charges. Common charges are your share of the upkeep of the building. As alluded to in other responses, there are other differences, but I am answering your question directly.
I would also like to emphasize that it is critical you work with a skilled, experienced agent. We take you through all the steps of purchasing. It saves you time, money, aggravation and mistakes.
Halstead Property, LLC
This depends upon the type of property. With a condo the taxes are paid separately. Here in New York city we have many coops. With a coop the property tax is included in the monthly fees, along with maintenance and all or a portion of the utilities.
You need to research this and many other facets of your prospective HOA:
Checking on the fees is not good enough;
some HOAs can;
raise the fees regularly,
enforce draconian rules for residents
make life in the compound unlivable,
make selling a nightmare.
Maybe visit the complex and talk to your future neighbors; see what they say.