Yankees and city officials testify to Congress about land taxes

 
Randy Levine, president of the New York Yankees; Martha Stark, the city’s finance commissioner; and Seth Pinsky, chief of the New York City Economic Development Corporation are testifying today in front of a congressional subcommittee about why the Yankees reported the value of the land for the team’s new stadium differently to the IRS and the state. The IRS was told that the land was worth $200 million, while the state was told it was worth $21 million. The Village Voice is blogging the hearing.