CityLaw: Three Policy Questions for Nonprofit Property Tax Exemptions

A long-standing feature of American tax policy is the exemption granted to nonprofit organizations, the largest of which is the exemption from local property taxes. The exemption, with origins back to the 18th century, is widespread. Among the 50 states, 17 state constitutions mandate property tax exemptions for charitable organizations, 25 authorize the legislature to give exemptions, and eight do not address the issue. New York State establishes two classes of exemptions for nonprofits:  … <Read More>



Reminder: CLE Event: New York City Property Tax 2013-2014

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

presents

Property Tax CLE Header

WHEN
Thursday, January 23, 2014, from 2:00 p.m. to 5:00 p.m.

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

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Comptroller Audit Finds $10 Million Wrongly Given In Tax Abatements

Audit determined the Department of Finance improperly gave abatements to condos and co-ops owned by corporations over a four-year period.  On January 28, 2016 the Office of the City Comptroller Scott Stringer released a report of an audit conducted of the Department of Finance.  In the final report, the Comptroller’s Office found the Department of Finance wrongly gave out over $10 million worth of property tax abatements to corporate-owned condominums, co-ops, indoor parking spaces, … <Read More>