Category: Real estate taxes

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 […]

Month in Review, February, 2016: Part 2, The macro of money

22 March, 2016 (10:00) | Apartments, Bankruptcy, Chicago, China, Cities, Housing, Maine, Micro-units, Mobile homes, Municipal bankruptcy, Real estate taxes, Rent control, Rental, Tiny houses, Venice |

By: David A. Smith [Continued from yesterday’s Part 1.] As we saw yesterday with both the tiny house and the tiny rent-controlled apartment, ecosystems are more complex than they appear on the surface – – and when a half a trillion paper butterflies flap their wings to escape its financial regime, the consequences are felt […]

Month in Review, February, 2016: Part 1, The micro of people

21 March, 2016 (10:00) | Apartments, Bankruptcy, Chicago, China, Cities, Housing, Maine, Micro-units, Mobile homes, Municipal bankruptcy, Real estate taxes, Rent control, Rental, Tiny houses, Venice |

By: David A. Smith So bound up is housing in our conception of ourselves – perhaps it has to do with the trust we place in our space when we close our eyes for unconscious sleep – that inevitably we claim ownership and dominion over those sleeping surroundings, and see in them both expressions of […]