With the Governor's recent proposal, the now lapsed 421-a tax break for housing is again a major focus of the public policy agenda. Despite the fact that 421-a costs the city a considerable amount in foregone tax dollars--$1.4 billion this fiscal year due to prior commitments--there has been little research examining the tax break's effect on housing prices and whether the tax benefit efficiently fosters housing development, the 421-a program's primary goal. We explore these questions in regard to condos receiving 421-a benefits.
The Department of Transportation repairs and maintains the city’s streets. To fulfill this task, the department performs an ongoing street quality assessment and rates sections of every street in the city on an 18-month rolling basis on a scale from 1 to 10.