The City of New York has been a forceful innovator in its use of real estate tax incentives to both encourage the new construction of housing and ensure the renovation of its existing older housing stock.
By utilizing an aggressive legislative agenda over the decades, the City has created myriad tax programs to address a wide range of housing needs, from the new construction of market rate housing, to aiding the long term financial viability of projects serving the poorest people with special needs.
Despite the success of these strategies, they have been criticized in recent years for giving away too much to some projects, not addressing some of the emerging needs of the existing housing stock, and hurting the City’s ability to collect much needed taxes.
CHPC decided to add to this debate with a project focused on tax incentives and their potential public policy role in the future. A variety of different research methods are used including industry surveys, panel debates, and reports. You can read all of the results of this study below.
Funding for this project was provided by Enterprise Community Partners.