Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State: | New York |
| Effected Jurisdiction: | New York City |
Jurisdiction type: | Municipality |
| Fiscal year ending In: | 2018 |
| Program name: | Industrial Incentive Program - Mortgage Record Tax |
| Program purpose: | General Economic Development |
| Statutory authority: | New York State Real Property Tax Law: Article 4, Title 2F, Section 489; NYC Administrative Code: Title 11, Chapter 2, Subchapter 2, Part 5 |
| Abating jurisdiction(s): | City of New York |
| Applicable taxes: | Mortgage Recording Tax |
| Method of abatement: | Tax Exemption |
| Provisions for recapture: | Non-compliance with lease provisions authorizes benefit recapture |
| Gross revenue loss: | $6,476,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $6,476,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
