Category: Real estate taxes

The ghost in the shell: Part 2, Render unto Scituate

1 March, 2017 (09:00) | Churches, Development, F.X. Cabrini, Housing, Land value, Nonprofits, Real estate taxes, Redevelopment, Scituate | No comments

  By: David A. Smith   [Continued from yesterday’s Part 1.]   As we saw yesterday, my morbid fascination with the deconsecration, closure, occupancy-vigil, and litigation of St. Frances X. Cabrini Catholic Church in Scituate has caused me to track it past the media’s loss-of-interest point (the vigilers’ peaceful departure) and to the question, is […]

The ghost in the shell: Part 1, I am the redevelopment and reuse

28 February, 2017 (09:00) | Churches, Development, F.X. Cabrini, Housing, Land value, Nonprofits, Real estate taxes, Redevelopment, Scituate | 1 comment

  By: David A. Smith   What comes after death?   What worth the body when the spirit has fled?   For human beings, any affirmative answer rests on faith, because we know what happens to the shell of our selves; it goes into the earth or into the fire.  But what happened to a […]

What is efficiency? said jesting Pilate: Part 3, The judgment

8 February, 2017 (08:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News | No comments

  By: David A. Smith   [Continued from yesterday’s Part 2 and the preceding Part 1.]   As we’ve seen in Parts 1 and 2 of this surprisingly long post, seeking to reach a conclusion on the public-policy merits of New York’s section 421a tax abatement program, when applied to large condominium developments, Section 421a […]

What is efficiency? said jesting Pilate: Part 2, The analysis

7 February, 2017 (09:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News | No comments

  By: David A. Smith   [Continued from yesterday’s Part 1.]   After all the paired comparisons and the careful quantitative analysis, is Section 421a for condominiums a good program for New York City?   We’re actually twins by different parents   Yesterday’s Part 1, scrutinizing paired-comparison of condo sales throughout New York City over […]

What is efficiency? said jesting Pilate: Part 1, The evidence

6 February, 2017 (09:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News | No comments

  By: David A. Smith   Sources used in this post   Crain’s New York (30 January 2017) NYC Independent Budget Office report dated January 30, 2017 (pdf; green Georgia font),   For governments, subsidies exist for only two purposes: charity or incentive.    The 421a program is intended to spur new construction. It is […]