Category: Tax abatement

Month in Review, December 2011

17 February, 2012 (09:03) | Admin, Condominiums, Homeownership, Housing, Incentives, Migration, Occupy movement, Real estate taxes, Tax abatement, Zoning |

[Previous Months in Review available here: Nov 11, Oct 11, Sep 11, Aug 11, Jul 11, Jun 11, May 11, Apr 11, Mar 11, Feb 11, Jan 11]   By: David A. Smith     Is this the end of Modern Times?   During December, many things other than simply the calendar year ended, starting [...]

When teasers expire: Part 2, but some are more equal than others

9 December, 2011 (09:00) | Co-ops, Condominiums, Incentives, Markets, New York City, Real estate taxes, Rent control, Tax abatement |

By:David A. Smith   [Continued from Wednesday's Part 1.]   Yesterday’s post introduced readers to the obscure but important realm of tax abatements that phase out, which (as illustrated by this lengthy New York Times article) leaves those whom the discount induced to buy now feeling abused by the return of normalcy, and hence in [...]

When teasers expire: Part 1, all abatements are equal

7 December, 2011 (10:18) | Co-ops, Condominiums, Incentives, Markets, New York City, Real estate taxes, Rent control, Tax abatement |

By:David A. Smith   So powerful is our capacity to forget what we wish to that if you give us an extended discount, however you phase it out, our reaction is not to be again thankful for the break, but angry at its withdrawal, as shown in this lengthy New York Times article:   No [...]

Mixing incomes or mixing missions? Part 3, political principles

7 October, 2011 (09:00) | 421-a, Affordability, Apartments, Development, Inclusionary zoning, Income mixing, Markets, New York City, NIMBY, Rent control, Rental, Tax abatement, Zoning |

[Continued from yesterday's Part 2, and the preceding Part 1.]   By:David A. Smith   So far, in guiding the reincarnated John Locke through New York City’s Section 421-a tax abatement program for development and affordable housing, we identified and to some degree untangled the policy principles which inspired 421-a and the real estate principles [...]

Mixing incomes or mixing missions? Part 2, real estate principles

6 October, 2011 (11:15) | 421-a, Affordability, Apartments, Development, Inclusionary zoning, Income mixing, Markets, New York City, NIMBY, Rent control, Rental, Tax abatement, Zoning |

[Continued from yesterday's Part 1.]    By:David A. Smith   Yesterday we dove deep into Emerald Green Apartments, a New York City 80/20 (80% market, 20% affordable) benefiting from a Section 421-a tax abatement, without which it was not economically feasible, and asked ourselves one of many things the New York Times didn’t ask: how [...]