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There are insane tax breaks these luxury apartments get, too, on the order of a 90% discount. It's not like these properties are generating huge windfalls for c
by teachrdan 4y ago
There are insane tax breaks these luxury apartments get, too, on the order of a 90% discount. It's not like these properties are generating huge windfalls for city or state government.
https://www.nbcnews.com/business/markets/billionaires-get-low-income-tax-breaks-nyc-condo-tower-flna1C6403983 https://www.nbcnews.com/business/markets/billionaires-get-lo...
- dionidium 4y agoSure, but they don't cost the city anything, either. They sit empty and the city collects money. Meanwhile, the owners aren't even there and use zero city services. Should those taxes be higher? Fine with me! But these apartments are a low-salience/high-visibility distraction. They have hardly anything to do with the issues in the broader housing market.
- kyawzazaw 4y agoActually they do. They influence the mindset and strategy of developers.