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City Finance officials outline $8 billion in annual property-tax exemptions and urge council partnership
Summary
At a joint session of the New York City Council's housing and finance committees, Department of Finance officials described how the agency administers property tax exemptions and abatements that support affordable housing, homeowners, businesses and nonprofits across the city.
At a joint session of the New York City Council's housing and finance committees, Department of Finance officials described how the agency administers property tax exemptions and abatements that support affordable housing, homeowners, businesses and nonprofits across the city.
"I am the assistant commissioner for property exemptions administration," Pierre DeJean said during his remarks. "Department of Finance is the administering agency for dozens of property exemptions and abatements. Each year, the Department of Finance oversees an annual expenditure of real property taxes of around $8,000,000,000."
DeJean told committee…
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