New York City Tax Abatement Reform Removes Some Tax Breaks, Creates $400 Million Trust Fund

摘要

Mayor Michael R. Bloomberg has signed into law a bill that reforms New York City's 421-a property tax abatement program by limiting tax breaks for luxury apartments and reducing other benefits for market-rate housing in order to raise $400 million for an affordable housing trust fund and $300 million for affordable and moderate-income housing in the city's housing plan.