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Date Published:: 2022-06-06
Description:: Without action from state lawmakers last week, the 421-a tax exemption will expire on June 15, 2022. However, even if the program is not renewed in a future session, it will continue to cost the city property tax revenue for years to come.
Agency:: Independent Budget Office, NYC (IBO)
Subject(s):: Taxation - Exemption from and Taxation - Real Property
Report Type:: Reports - Other (Consultant/Staff)

Date Published:: 2022-03-31
Description:: Included in its Preliminary Budget, the Adams Administration proposed 3 tax programs: one to enhance the value of city’s EITC, which increases the value of wages and salaries for low- and moderate-income tax filer; as well as 2 tax breaks to incentivize the development of childcare programs in NYC
Agency:: Independent Budget Office, NYC (IBO)
Subject(s):: Taxation, Taxation - Exemption from, and Taxation - Real Property
Report Type:: Reports - Other (Consultant/Staff)

Date Published:: 2021-10-20
Description:: The ombudspersons provide data regarding their work at the end of each fiscal year and make annual recommendations to the Department of Finance (DOF) commissioner regarding Rent Freeze Program operations.
Agency:: Finance, Department of (DOF)
Subject(s):: Taxation - Exemption from and Finance
Report Type:: Reports - Annual

Date Published:: 2021-10-08
Description:: With manufacturing jobs in New York City declining, the New York City Industrial Development Agency, under the Giuliani Administration, created the Industrial Program in 1995. This report looks at the evolution and effectiveness of the program.
Agency:: Independent Budget Office, NYC (IBO)
Subject(s):: Business, Taxation, and Taxation - Exemption from
Report Type:: Studies

Date Published:: 2020-02-01
Description:: This report, mandated by the New York City Charter, identifies and describes tax expenditure programs related to taxes administered by the City and provides tax expenditure estimates based on available data.
Agency:: Finance, Department of (DOF)
Subject(s):: Taxation, Taxation - Exemption from, Taxation - Real Property, and Finance
Report Type:: Reports - Annual

Date Published:: 2017-07-20
Description:: The Mayor's Press Office releases information about notable events and actions taken by the Mayor, as well as transcripts of all media conferences, radio shows, and ceremonies that the Mayor attends.
Agency:: Mayor's Office (OM)
Subject(s):: Taxation - Exemption from, Government, and Housing
Report Type:: Press Releases

Date Published:: 2016-09-14
Description:: When representatives of the real estate industry and construction unions failed to reach an agreement over wages in January, the 421-a tax benefit program came to a halt for the construction of new multifamily housing.
Agency:: Independent Budget Office, NYC (IBO)
Subject(s):: Taxation - Exemption from
Report Type:: Bulletins

Date Published:: 2015-05-20
Description:: 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.
Agency:: Independent Budget Office, NYC (IBO)
Subject(s):: Taxation - Exemption from
Report Type:: Other

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