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: | 2020 |
| Program name: | Low Income Housing Program 420-C |
| Program purpose: | Affordable Housing |
| Statutory authority: | New York State Real Property Tax Law: Article 4, Title 2, Section 420c |
| Abating jurisdiction(s): | City of New York |
| Applicable taxes: | Real Property Tax |
| Method of abatement: | Reduction of assessed value |
| Provisions for recapture: | Previously abated taxes are not recaptured unless there is a direct demand from HPD to do so |
| Gross revenue loss: | $285,800,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $285,800,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
