NYC Government Publication
Audit Report on the Calculation and Application of the J-51 Tax Benefits for Properties in Manhattan by the Department of Finance (FP06-141A)
An audit report was filed on May 15, 2009 on the calculation and application of the J-51 Tax Benefits for Properties in Manhattan by the Department of Finance (DOF). This audit determined whether DOF is properly calculating and applying J-51 tax exemption and tax abatement benefits. It was determined that there were weaknesses in the administration of key aspects of the J-51 tax exemption incentive program. These issues led to incorrect collection and calculation of tax amounts due the City. Additional issues were identified with documentaion and discretionary interpretation of the J-51 statute that limited City revenue potential. Recommendations were made to rectify these issues.
- Agency
- Subject
- Report type
- Audit Report
- Date published
- 2009-05-15
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7051_Audit_Report_on_the_Calculation_and_Application_of_the_J_51_Tax_Benefits_for_Properties_in_Manhattan_by_the_Department_of_Finance.pdf | 2020-05-09 | Download |