3 thoughts on “Lawmakers: Axe Tax Break for High-End Condos and Coops to Help Fund NYCHA

  1. Two parts to this comment: First, you can’t pull on one thread of NYC’s real estate tax scheme without finding it’s inextricably linked to other stuff. Specific to this story, NYC’s residential co-ops and condos currently are assessed as though they were rental units. They’re distinctly different critters. Eliminating this link might, in a limited way, lead to more logical assessed values. And yes, then tax higher-valued units at a higher rate.

    Second, specific to finding funding sources (plural) for NYCHA, eliminate the current subsidy for car parking at NYCHA buildings. Charge market rates.

  2. Charging a higher rate for NYCHA apartments in highly prized locations in Manhattan would be a start.
    Then, selling off part of that land and building market rate apartments would be next.

    • Interesting. Why would we charge low-income who happen to be in a Manhattan location more? That kind of goes against the whole idea of public housing, doesn’t it?

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