Lax Oversight of Propety Exemptions Costing New York City Over $500 Million in Lost Tax Revenue

New York City is losing an estimated $173 million in tax revenue due to lax oversight of changes in property ownership from tax exempt entities to for-profit institutions and individuals, according to a report entitled New York City Uncollected Millions, issued by District Council 37 ASCME AFL-CIO. The report states that many property exemptions are issued in error. (more…)

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Published in: on January 16, 2012 at 12:07 pm  Leave a Comment  
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