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Rep. Hakeem Jeffries pays just $200 in property taxes thanks to sweetheart subsidy law Login/Join 
wishing we
were congress
posted
https://nypost.com/2022/01/23/...tm_source=NYPTwitter

The median property tax for New York city homeowners is more than $5,000.

Brooklyn Congressman Hakeem Jeffries, a potential replacement for House Speaker Nancy Pelosi, already lives in a “People’s House” — that’s heavily subsidized by taxpayers.

Public records show that Jeffries and his family reside in a condo unit in red-hot Prospect Heights, paying just $213 a year in property taxes thanks to a sweetheart deal under a law he supported when he served in the state Assembly.

The condo the Jeffries bought in 2007 in the six-story, 40-unit complex on Underhill Avenue benefits from a massive property tax break granted under the 421-A abatement program that housing advocates have long complained is skewed toward wealthy developers and well-to-do tenants.

The law provides developers and residents property tax breaks over 25 or 35 years in exchange for making at least 20 percent of the apartments “affordable” for moderate- to low-income residents.

The generous subsidy program costs the city treasury up to $1.6 billion a year in property tax revenues

Before he was elected to Congress, Jeffries served in the state Assembly, where he co-sponsored and voted for renewal of the tax abatement law from which he benefits.

His apartment is now worth about $1.2 million

Housing activists blasted the deal that allows Jeffries to pay so little in property taxes. His wife also is employed as a benefits manager at the powerful healthcare workers union, SEIU Local 1199.
 
Posts: 19759 | Registered: July 21, 2002Reply With QuoteReport This Post
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Silly rabbit, rules are for thee and not for me says the elected official. Jeffries is the same thing you find leaking from porta potties all across this country.


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Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 33845 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
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Nothing surprises me anymore, imagine if it were Trump?


No car is as much fun to drive, as any motorcycle is to ride.
 
Posts: 7411 | Location: Northern WV | Registered: January 17, 2005Reply With QuoteReport This Post
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