Monday, July 18, 2011

A lot of property is off the tax roll

From the NY Post:

A new analysis of the city's property-tax rolls found that religious institutions, wealthy private colleges, hospitals and other nonprofits -- and even Madison Square Garden -- are exempt from an astonishing $13.5 billion in property taxes.

The Independent Budget Office, which released the review yesterday, reported that, just in the last two years, an extra $1 billion in potential property taxes were placed off limits to city tax collectors.

"Some of the breaks are permanent, and may actually be more than estimated," the IBO said, noting that the city's tax assessors don't have much reason to boost values on buildings they know to exempt.

The lengthy list of those living the zero-tax life ranged from nonprofit institutions ($2 billion in exemptions) to the MTA ($751 million) to Madison Square Garden, still enjoying the fruits of a sweet deal reached during the Koch administration that's now worth $15 million a year.

Incentives for economic development offered through the Industrial Development Agency consumed $368 million in property taxes that might otherwise have been added to the city treasury.

Hospitals and other medical facilities were spared more than $515 million in taxes.

Private schools, colleges and universities saved $430 million in tax levies.

The city itself made the list since it owns more than 7,500 properties that could generate $5 billion in taxes in private hands.


Anonymous said...

And every time another one of those shady Korean churches opens up....NYC digs further into my pocket to make up for the shortfall in property taxes.

Since there are NO EXISTING PROVISIONS in the U.S. Constitution that require houses of worship to be exempt from paying taxes.....isn't it about time the government nailed them to pay their fare share in running the country, state and city?

Separation of Church and State DOES NOT give any religious group a legal free pass to avoid the payment of taxes!

There are some municipalities in America THAT ALREADY exact tax payments from not for profits, religious institutions, etc.

Anonymous said...

Actually "separation of church and state" (which is the not in the constitution) could be used as a pretext to churches not being taxed.

Anonymous said...

Not taxing not-for-profits, inlcuding churches, makes sense because not-for-proftis provided services that would otherwise come from the government, and cost the taxpayer even more.

Anonymous said...

many Queens cult groups register as churches to get the non profit status. the killer is that they get to own tax free commercial property. the shady Korean Churches own apartment buildings and are slumlords.

KG2V said...

Actually, I'd call not taxing churches the actual establishment of a religion, because not the state has to decide what is, and what is NOT a religion

Anonymous said...

there is a 13 story religious nursing home in N.E.Queens that is outbidding every potential private home buyer, adjacent to their building. The religious order now owns approximately five untaxed properties, that would still be on the nyc tax rolls if privately purchased.

Using Medicaid Tax dollars for these purchases must be illegal. outbidding private home buyers is "A SIN ". Many of the spaces are used to park employee's cars.

Anonymous said...

That buddist temple in Elmhurst, 46th Ave/between 76th St-77th St
all you see are luxury cars in the parking lot.

Saw one of them monks wearing his tan robe scratching off lottery tickets at a deli like the end of the world was coming, unreal!

All Korean ministers seem to drive nothing but lexus and mercedes.

Vow of poverty? more like a vow of thievery.

Anonymous said...

Seriously, this definitely is a place to start a change. This is ridiculous, esp when they own real estate. But it has been going on forever: Trinity Church, archdiocese, Columbia and NYU, and these all have power.Look at your paycheck folks. See those deductions? About a third?You're supporting all these guys.

Anonymous said...

I'm fed up!

So I sat down with my attorney last month and we are working out an ironclad, boiler plate method of declaring my home as a not for profit foundation/research facility.

The details are being finalized
and within a year my property will become tax exempt.

It's ALL perfectly LEGAL!

If I can't beat 'em....I'll gladly join 'em!

Anonymous said...

Tax all "houses of worship", schools and non-profit organizations - no one should be off the tax roll.

Anonymous said...

It seems that everybody wants someone else's property to be taxed, but not his own.
The more taxes the gov't takes in, the more it wastes it. Best to eliminate ALL property taxes.