Comptroller’s office analyzes other sources of data, concluding retail vacancy is citywide problem. On September 25, 2019, New York City Comptroller Scott M. Stringer released a report regarding New York City’s retail vacancy crisis. Comptroller Stringer’s report is intended to fill a void in unexplored data from City Planning’s August 8, 2019, analysis of the same topic.
Search Results for: Property Taxes
Amazon Cancels Plans for Long Island City Headquarters in Sudden Announcement
The new headquarters would have brought at least 25,000 jobs in exchange for nearly $3 billion in tax incentives. On February 14, 2019, Amazon announced the company was canceling its plans to open a new headquarters located in Long Island City, Queens after political pressure from local and state lawmakers.
Comptroller Audit Reveals that DOF Misclassified Staten Island Properties
Comptroller’s audit finds that the DOF misclassified for tax purposes at least twelve Class 1 properties on Staten Island. On February 24, 2017, the Office of the City Comptroller Scott Stringer released a report of an audit of Department of Finance property classifications on Staten Island. The audit sought to evaluate whether payments to Samaritan and the payment rates were reasonable, appropriate, and adequately supported, and whether Samaritan was complying with its contract with DHS. … <Read More>
Ellen Hoffman: President of the New York City Tax Commission
Ellen Hoffman, a lawyer for 40 years, earned a JD from New York University School of Law in 1977 and an LLM in Taxation in 1978. She began her career in tax law at a private firm in New York City, when after 11 years, she felt the urge to do something different. Hoffman stumbled upon a posting for a tax attorney position with the New York City Department of Finance and, as Hoffman … <Read More>
Comptroller Releases Findings of Lost City Revenue in Audit of Department of Finance
The audit report reveals that the misclassification of 140 properties has deprived the City of $1.7 million annually in lost property tax revenue. On February 18, 2016, the Office of the NYC Comptroller publicized the results from its audit of the New York City Department of Finance. The audit sought to investigate whether the Department of Finance had implemented procedures that adequately safeguard against the misclassification of Brooklyn property sites. The Comptroller’s Office and DOF … <Read More>
Rent Stabilization: Preserving Low and Middle-Income Housing
Rent regulation is not a new issue for New York City. But the headlines in June 2015 were far larger and the reactions more contentious than at any time in recent memory. For the first time in its 46-year history, the Rent Guidelines Board decided that there would be no increase in rents for one-year renewals on rent-stabilized apartments; it also limited increases on two year renewals to two-percent. Not surprisingly, tenants hailed the decision … <Read More>