REBNY warns on property tax reform

December 22, 2006 12:00AM

The Real Estate Board of New York is warning that likely changes to tax legislation would endanger future jobs, tax income and housing. Next week, Mayor Bloomberg is expected to sign revised 421-a tax exemption legislation into law. Under the revised rules, developers building in many desirable neighborhoods would have to include affordable housing in their projects in order to qualify for the tax break. more [GlobeSt]

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