Hochul Extends NYC Commercial Tax Break Over Watchdog Objections

New York Gov. Kathy Hochul (D) has extended a tax break for commercial and industrial properties in New York City, over the objections of government accountability groups.

• Hochul on Sept. 20 signed legislation, S9822, renewing the city’s Industrial & Commercial Abatement Program, which offers property tax breaks for up to 25 years for buildings that are “built, modernized, expanded, or otherwise improved,” according to the city Department of Finance. The program is meant to spur construction outside of Manhattan’s business core.
• Budget watchdogs, including Reinvent Albany and Citizens Budget Commission, called on Hochul earlier this year to veto ...