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Tax Break Tracker Individual Entry

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.

StateNew York
Effected JurisdictionNew York City
Jurisdiction type: Municipality
Fiscal year ending In2022
Program nameBuild NYC Tax Abatement Program
Program purpose: Construction/rehabilitation
Statutory authority: New York Not-for-Profit Law: Section 411
Abating jurisdiction(s): City of New York
Applicable taxesMortgage Recording Tax
Method of abatement: Tax Exemption
Provisions for recapture: Change in utilization within ten years
Gross revenue loss: $4,198,000
Reimbursement / offset: $0
Net revenue loss: $4,198,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://comptroller.nyc.gov/wp-content/uploads/documents/ACFR-2022.pdf