Mayor Bill de Blasio. Image Credit: Benjamin Kanter/Mayoral Photo Office.

Advisory commission will conduct comprehensive review of property tax system. On May 31, 2018, Mayor De Blasio announced the formation of an advisory commission to develop recommendations to reform the City’s property tax system. The reform aims to make the property tax system simpler, clearer, and fairer, as well as ensure that there is no reduction in revenue used to fund essential City services. The property tax system has not had an in-depth review by such commission since 1993. (read more…)

NYC HPD

The revised Section 421-a offers new opportunities for affordable housing. The 421-a property tax exemption began in 1971 as an incentive for developers to develop badly needed housing in New York City. When the real estate market rebounded in the 80s, the program was amended to condition tax abatements on the construction of affordable housing units. The program expired in June 2016. In its place, the State Legislature passed the “Affordable New York” program in 2017. (read more…)

THE NEW YORK CITY TAX COMMISSION, THE CENTER FOR NEW YORK CITY LAW,
& THE CENTER FOR REAL ESTATE STUDIES

present

WHEN
Monday, January 22, 2018, from 2:00 p.m. to 5:00 p.m.

*** (read more…)

NYC Comptroller Scott Stringer. Image credit: Office of the New York City Comptroller

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. Additionally, the audit sought to determine whether DHS adequately monitored Samaritan to ensure that all payments were made in compliance with the contract. (read more…)

THE NEW YORK CITY TAX COMMISSION, THE CENTER FOR NEW YORK CITY LAW,
& THE CENTER FOR REAL ESTATE STUDIES

present

WHEN
Thursday, January 26, 2017, from 2:00 p.m. to 5:00 p.m.

***

WHERE
New York Law School
185 West Broadway (between Worth and Leonard Streets) (read more…)

Image Credit: nyc.gov

Tenant alleged that the City’s allocation of the property tax burden violated due process and equal protection. Ernest Robinson sought declaratory and injunctive relief alleging that the City’s property tax classification system created a disparate and adverse impact on African-American and Hispanic residents, deprived them of due process and equal protection of the laws, and violated the Fair Housing Act. Robinson alleged that the Class Two tax burden, heavily made up of rental multiple dwellings, was borne primarily by minority tenants, and that approximately 30 percent of a tenant’s rental payment was attributable to the landlord’s property tax. (read more…)