Home / World / Kill the costly coop-condo tax break: It meant $48,000 to Trump and costs the city a half-billion dollars annually

Kill the costly coop-condo tax break: It meant $48,000 to Trump and costs the city a half-billion dollars annually

According to DOF, 53% of the households who are beneficiaries are in Manhattan, 15% in Brooklyn, and only 4% in the Bronx. By dollar value, 76% of the benefits accrue to Manhattan residents, overwhelmingly in higher value areas. Trump’s share alone was $48,000 last year — the higher value your real estate, the greater the tax rebate. This rebate is separate from any of the other abatements that create or preserve affordable or rent-stabilized housing such as 421a, 420c, J-51, and others.

Jessica Katz

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