January 24, 2022, 11:04 AM
sdyRep. Hakeem Jeffries pays just $200 in property taxes thanks to sweetheart subsidy law
https://nypost.com/2022/01/23/...tm_source=NYPTwitterThe 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.
January 24, 2022, 11:07 AM
bigdealSilly 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.
January 24, 2022, 12:21 PM
ridewvNothing surprises me anymore, imagine if it were Trump?