The 421-a property tax exemption is the city’s largest tax expenditure, costing more than $1 billion
in forgone taxes each year. The exemption dates back to the 1970s and is currently up for renewal
in Albany.
IBO used the address of each student attending a New York City public high school in the 2012-2013 school year to identify the census tract in which each student lived and the median household income for households residing in the tract.
Federal Title I-A funds provide assistance to schools and local educational agencies (in New York City, the Department of Education) that serve a large number or share of students from low-income families.
In October 2014, the city’s Human Resources Administration announced a new employment plan for public assistance recipients. The plan, which was already being phased in before the formal announcement, makes the agency’s employment programs less punitive and puts more emphasis on education & training
The city makes an annual payment to the Metropolitan Transportation Authority (MTA) to support the authority’s capital program. NYPIRG’s Straphangers Campaign asked IBO to review the annual contributions to see if they have kept pace with inflation.