New York City Department of Finance
Industrial and Commercial Incentive Program In the Industrial and Commercial Incentive Program, the New York City Department of Finance awards property tax exemptions and abatements to eligible applicants engaged in activities involving the new construction, modernization, rehabilitation, expansion or other improvement of existing industrial or commercial properties. We examined selected awards to determine whether the property tax benefits had been awarded to eligible applicants. Generally, we found that the benefits had been awarded to eligible applicants. We also identified areas of the award process where improvements could be made.
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