Tax Exemptions on Real Estate PDF Download

Author: Westchester County (N.Y.). Chamber of Commerce
Publisher:
ISBN:
Category : Real property tax
Languages : en
Pages : 122

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Book Description

Author: Citizens Budget Commission (New York, N.Y.)
Publisher:
ISBN:
Category : NYC
Languages : en
Pages : 88

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Book Description

Author: Joseph S. Schwab
Publisher:
ISBN:
Category : Tax exemption
Languages : en
Pages : 20

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Book Description

Author: Walter J. Klink
Publisher:
ISBN:
Category : Real property tax
Languages : en
Pages : 218

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Book Description

Author: Merchants' Association of New York. Special Committee on Housing
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 18

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Book Description

Author: Alfred Balk
Publisher: Russell Sage Foundation
ISBN: 9781610445818
Category : Business & Economics
Languages : en
Pages : 288

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Book Description
A recent Supreme Court decision confirmed the churches' right to tax exemption for religious property. In this highly relevant book, Alfred Balk places this question in social perspective and demonstrates how tax exemption and immunity affect the fiscal load of local communities and the well-being of our whole society. Among the "free list" or tax-free properties which the author examines are churches, hospitals, schools, and government buildings. Seven specific proposals for reform are set forth.

Author: Jenny Chiani Wu
Publisher:
ISBN:
Category :
Languages : en
Pages : 108

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Book Description
New York City's tax expenditures relate to real property tax totaled $4.5 billion in fiscal year 2012. The largest expenditure relates to the "421-a" tax exemption program for new multi-family residential real estate development, which costs the New Yorkers nearly $1 billion in foregone tax revenue (Office of Tax Policy, FY 2012). The 421-a program was originally established in the 1970s to spur new multi-family developments. Initially, developers received full tax exemption on the assessed value of the new construction, which then decreased by a phase-out schedule where their property taxes were payable in full at the end of benefit period. As the private development market recovered, the city calibrated the program to (i) exclude certain neighborhoods from receiving benefits for strictly market-rate development and (ii) to spur affordable housing development by offering benefits of the program if a certain percentage of the total units constructed were affordable. Despite the success of the strategy in delivering 142,044 residential units in 2012 (Office of Tax Policy, FY 2012), the program has been subjected to increasing scrutiny as New York City's need for real estate tax revenue has increased. It is unclear how many of these units would have been built without the exemption. Many opponents have argued for the termination of the program because it has not produced benefits commensurate with the huge tax expenditures New York City has made, and that the beneficiaries had been landowners who captured the value of the abatements through higher land prices. As the program approaches its potential renewal in June 15, 2015, it is worthwhile to conduct a detailed analysis of the efficacy and cost of the current program. The thesis offers a thorough yet intelligible case study of a co-op building in Chelsea of how the property taxes would be calculated and the program's impact on the financial feasibility of the development. Different scenarios are created that follows each of the program reforms to understand the actual value of the property tax exemptions to developers and the ways in which such value is distributed. In the current environment where many New Yorkers find themselves facing a daunting housing market with decreased production and increased demand for affordable units, the program should strengthen its benefits to steer more developers towards creating affordable housing. Alternative financial models based on the case study suggest that the return of an improved negotiable certificate program can make the 421-a program a more effective affordable housing incentive without additional cost to the city.

Author: National Education Association of the United States. Committee on Tax Education and School Finance
Publisher:
ISBN:
Category : Education
Languages : en
Pages : 36

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Book Description

Author: Michael Brostek
Publisher: DIANE Publishing
ISBN: 1437918026
Category : Business & Economics
Languages : en
Pages : 63

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Book Description
The Joint Committee on Taxation identified improved taxpayer compliance with the real-estate tax deduction as a way to reduce the fed. tax gap -- the difference between taxes owed and taxes voluntarily and timely paid. This report examined: (1) factors that contribute to taxpayers including non-deductible charges; (2) the extent that taxpayers may be claiming such charges; (3) the extent that IRS examinations focus on the inclusion of such charges; and (4) possible options for improving taxpayer compliance. The auditor surveyed a generalizable sample of local gov¿ts., studied taxpayer compliance in two jurisdictions that met selection criteria, reviewed IRS documents, and interviewed gov¿t. officials. Includes recommendations. Charts and tables.

Author: Peterson's
Publisher: Peterson's
ISBN: 0768934117
Category : Study Aids
Languages : en
Pages : 18

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Book Description
Understanding taxes and assessments is essential for passing the Real Estate License Exam, because property taxes are in important factor for buyers and sellers. Peterson's Master the Real Estate License Exam: Taxes and Assessment provides you with important real estate information on property taxes, property tax exemptions, and special assessments. Whether you've just finished your real estate coursework or you're interested in changing careers, Peterson's Master the Real Estate License Exams provides you with everything you need to sharpen your Real Estate License Exam test-prep skills. Peterson's Master the Real Estate License Exams details essential real estate concepts, including the law of agency, types of ownership, contracts and deeds, and thorough information on those aspects of real estate laws, rules, and regulations that vary by state.