NYC Government Publication
An Efficient Use of Public Dollars? A Closer Look at the Market Effects of the 421-a Tax Break for Condos
Downloadable Content
Download PDFWith 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
- Subject
- Report type
- Report
- Date published
- 2017-01-30
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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 |