NYC Government Publication

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.

Agency

• Independent Budget Office, NYC (IBO)

Subject

• Government Policy

Report type

• Report

Date published

• 2017-01-30

Items

Thumbnail	Title	Date Uploaded	Actions
	an-efficient-use-of-public-dollars-a-closer-look-at-the-market-effects-of-the-421-a-tax-break-for-condos-with-appendix.pdf	2020-05-06	Download