Download or read book Local Option Property Tax Exemptions in New York State written by Sylvia Adams and published by . This book was released on 1992 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book New York State Real Property Tax Exemptions written by and published by . This book was released on 1984 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Property Tax Exemptions in New York State written by New York (State). Office of the State Comptroller. Division of Local Government & School Accountability and published by . This book was released on 2013 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Problem of Real Property Tax Exemption written by New York State Legislative Institute. Economic Research Service and published by . This book was released on 1977* with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Real Estate Tax Exemption in New York City written by Citizens Budget Commission (New York, N.Y.) and published by . This book was released on 1967 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rethinking Property Tax Incentives for Business written by Daphne A. Kenyon and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of property tax incentives for business by local governments throughout the United States has escalated over the last 50 years. While there is little evidence that these tax incentives are an effective instrument to promote economic development, they cost state and local governments $5 to $10 billion each year in forgone revenue. Three major obstacles can impede the success of property tax incentives as an economic development tool. First, incentives are unlikely to have a significant impact on a firm's profitability since property taxes are a small part of the total costs for most businesses--averaging much less than 1 percent of total costs for the U.S. manufacturing sector. Second, tax breaks are sometimes given to businesses that would have chosen the same location even without the incentives. When this happens, property tax incentives merely deplete the tax base without promoting economic development. Third, widespread use of incentives within a metropolitan area reduces their effectiveness, because when firms can obtain similar tax breaks in most jurisdictions, incentives are less likely to affect business location decisions. This report reviews five types of property tax incentives and examines their characteristics, costs, and effectiveness: property tax abatement programs; tax increment finance; enterprise zones; firm-specific property tax incentives; and property tax exemptions in connection with issuance of industrial development bonds. Alternatives to tax incentives should be considered by policy makers, such as customized job training, labor market intermediaries, and business support services. State and local governments also can pursue a policy of broad-based taxes with low tax rates or adopt split-rate property taxation with lower taxes on buildings than land.State policy makers are in a good position to increase the effectiveness of property tax incentives since they control how local governments use them. For example, states can restrict the use of incentives to certain geographic areas or certain types of facilities; publish information on the use of property tax incentives; conduct studies on their effectiveness; and reduce destructive local tax competition by not reimbursing local governments for revenue they forgo when they award property tax incentives.Local government officials can make wiser use of property tax incentives for business and avoid such incentives when their costs exceed their benefits. Localities should set clear criteria for the types of projects eligible for incentives; limit tax breaks to mobile facilities that export goods or services out of the region; involve tax administrators and other stakeholders in decisions to grant incentives; cooperate on economic development with other jurisdictions in the area; and be clear from the outset that not all businesses that ask for an incentive will receive one.Despite a generally poor record in promoting economic development, property tax incentives continue to be used. The goal is laudable: attracting new businesses to a jurisdiction can increase income or employment, expand the tax base, and revitalize distressed urban areas. In a best case scenario, attracting a large facility can increase worker productivity and draw related firms to the area, creating a positive feedback loop. This report offers recommendations to improve the odds of achieving these economic development goals.

Download or read book Report of the Committee on State and Municipal Taxation of the Chamber of Commerce of the State of New York with a Draft of an Act to Amend the Tax Law by Providing for the Apportionment of State Taxes and for Local Option in Taxation written by New York Chamber of Commerce and published by . This book was released on 1901 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book NYC Property Tax Exemption Program written by Jenny Chiani Wu and published by . This book was released on 2012 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: New York City's tax expenditures relate to real property tax totaled $4.5 billion in fiscal year 2012. The largest expenditure relates to the "421-a" tax exemption program for new multi-family residential real estate development, which costs the New Yorkers nearly $1 billion in foregone tax revenue (Office of Tax Policy, FY 2012). The 421-a program was originally established in the 1970s to spur new multi-family developments. Initially, developers received full tax exemption on the assessed value of the new construction, which then decreased by a phase-out schedule where their property taxes were payable in full at the end of benefit period. As the private development market recovered, the city calibrated the program to (i) exclude certain neighborhoods from receiving benefits for strictly market-rate development and (ii) to spur affordable housing development by offering benefits of the program if a certain percentage of the total units constructed were affordable. Despite the success of the strategy in delivering 142,044 residential units in 2012 (Office of Tax Policy, FY 2012), the program has been subjected to increasing scrutiny as New York City's need for real estate tax revenue has increased. It is unclear how many of these units would have been built without the exemption. Many opponents have argued for the termination of the program because it has not produced benefits commensurate with the huge tax expenditures New York City has made, and that the beneficiaries had been landowners who captured the value of the abatements through higher land prices. As the program approaches its potential renewal in June 15, 2015, it is worthwhile to conduct a detailed analysis of the efficacy and cost of the current program. The thesis offers a thorough yet intelligible case study of a co-op building in Chelsea of how the property taxes would be calculated and the program's impact on the financial feasibility of the development. Different scenarios are created that follows each of the program reforms to understand the actual value of the property tax exemptions to developers and the ways in which such value is distributed. In the current environment where many New Yorkers find themselves facing a daunting housing market with decreased production and increased demand for affordable units, the program should strengthen its benefits to steer more developers towards creating affordable housing. Alternative financial models based on the case study suggest that the return of an improved negotiable certificate program can make the 421-a program a more effective affordable housing incentive without additional cost to the city.

Download or read book The Exemption from Taxation of Privately Owned Real Property Used for Religious Charitable and Educational Purposes in New York State written by Charles Joseph Tobin and published by . This book was released on 1934 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Local Option Property Tax Relief Programs written by Rute Pinho and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the state's local option property tax relief programs for homeowners.

Download or read book An Analysis of Property Tax Exemptions in New York State written by Christine F. Eggleton and published by . This book was released on 1994 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book In the Matter of a Public Hearing on NYS Real Property Tax Exemption Laws written by New York (State). Legislature. Senate. Standing Committee on Housing, Construction, and Community Development and published by . This book was released on 2003 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Local Option Property Tax Relief Programs for Homeowners written by Jessica Schaeffer-Helmecki and published by . This book was released on 2021 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses the state's local option property tax relief programs for homeowners. Updates OLR research report 2019-R-0034.

Download or read book State of Distress written by and published by . This book was released on 2005 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Final Report written by New York (State). Legislature. Joint Committee to Study and Investigate Real Property Tax Exemptions and published by . This book was released on 1970 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Examination of the Real Property Tax Exemption and Its Relationship to Local Government Revenue in New York State written by Larry Roland Gibbs Martin and published by . This book was released on 1970 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Decade of Housing written by United States. National Housing Agency and published by . This book was released on 1946 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: