Reforms to New York’s 485-a real estate subsidy went into effect on January 1, 2021. Lawmakers gutted them six months later.
Tag: 485-a
Wealthy developers cash in as cost of Buffalo tax break rises to $66.9 million
Tax break for mixed-use development has been abused to force property owners and renters to pay taxes for luxury lofts
Nick Sinatra just got a major state development deal, owes hundreds of thousands in property taxes (again)
We exposed Nick Sinatra’s $1.2 million in back taxes earlier this year. The developer just got millions of dollars in subsidies to build in Canalside, even though he’s behind on his taxes again.