421a program

Local Lawmakers Oppose Controversial Tax Abatement Program For Developers (Corrected)

421a program

Local Lawmakers Oppose Controversial Tax Abatement Program For Developers (Corrected)

This June, state lawmakers are expected to vote on renewing a 40-year-old tax exemption program, called 421-a [http://www.nyc.gov/html/dof/html/property/421a.shtml], that tenants and some local legislators have slammed [/golden-backs-bill-that-provides-massive-tax-breaks-for-developers-of-luxury-manhattan-apartment-buildings/] as a complete debacle that has helped to line the pockets of large developers