Wednesday, October 19, 2011

GJDC sues for tax-free parking

From the Daily News:

An influencial development group in southeast Queens is taking the city to court to stop paying taxes on its parking garages and lots in Jamaica.

Jamaica First Parking, a subsidiary of the Greater Jamaica Development Corp., had received tax-exempt status since 2007 on its five facilities by classifying itself as a charity.

The city revoked the perk after the Daily News reported in December that its tax breaks totaled more than a million dollars a year.

Greater Jamaica, a politically connected nonprofit group that aims to spur business in the area, sued the city Tax Commission and Department of Finance on Sept. 12 to reverse the decision, court papers show.

Greater Jamaica claimed in its lawsuit that the tax breaks are "critical" for Jamaica's revitalization by providing below-market-rate parking.

With higher rates, the group claimed Jamaica will lose customers to places such as Long Island, where shopping centers have cheaper or free parking.

Jamaica is well known for its discount shopping.

Greater Jamaica officials refused to comment on the lawsuit.

No comments: