What Type and Size of Buildings Are Receiving 421-a Property Tax Exemptions in 2013?

New York State real property tax law establishes the 421-a property tax exemption for the construction of new multifamily housing in the city. The length of the exemption is 10, 15, 20, or 25 years, which is determined by the location of the new development and whether it includes the construction of affordable housing.

The 421-a exemption is New York City’s most expensive real estate tax break. In 2013, there are 150,000 units of housing receiving 421-a tax exemptions that cost the city $1.1 billion in forgone tax revenue.

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Will New York City Hospitals That Treat Many Low-Income Patients Face The Heaviest Penalties Under New Federal Reimbursement Policies?

Two new federal policies tying Medicare reimbursements to quality of care took effect in October 2012. Hospitals are now penalized for excess readmissions. An additional penalty or bonus can be awarded, based on adherence to clinical standards and ratings on patient surveys.

Hospitals that serve the city’s poor−public hospitals and private safety-net hospitals−generally face heavier penalties than other hospitals. Penalties for 8 out of 12 public hospitals and 4 out of 6 safety-net hospitals exceed the citywide average of 0.97 percent of reimbursements.

Medicare accounts for $777 million of expected inpatient revenues in 2013 at Health & Hospitals Corporation facilities, about 30 percent of all anticipated inpatient revenues, ranging from $21 million at North Central Bronx Hospital to $112 million at Bellevue.

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SOURCES: United Hospital Fund; U.S. Centers for Medicare & Medicaid Services
NOTES: Some hospitals have more than one campus, but penalties/bonuses are systemwide. Private safety-net hospitals, as defined by the United Hospital Fund (UHF), are those where Medicaid and uninsured patients comprised more than 50 percent of admissions, other than births, in 2008.

Prepared by Christina Fiorentini
New York City Independent Budget Office

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New York City By The Numbers IBO Homepage

How Much is NYC Paying to Make Housing Repairs That Should be Done by Landlords?

The city has two repair programs that step in when residential landlords fail to maintain their buildings:

Emergency Repair Program. If a landlord fails to correct the most serious housing code violations, the city may make the repairs (or contract out the work) and bill the owner for the cost of the repair and administrative fees.

Alternative Enforcement Program. Each year the city selects the 200 most distressed residential buildings for participation. If the owner fails to make repairs, the city may do so and bill the owner accordingly. For more information see IBO’s fiscal brief on alternative enforcement.

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New York City By The Numbers IBO Homepage

What Program Is the Largest Source of Income Support Grants for Low-Income New York City Residents?

Over the last decade, the number of city residents receiving food stamps has more than doubled, while public assistance recipients have decreased and the number of blind and disabled New Yorkers receiving Supplemental Security Income benefits has remained flat.

In fiscal year 2012 city residents received $3.4 billion in food stamp benefits, compared with $2.9 billion from Supplemental Security Income and $1.4 billion from public assistance.

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SOURCES: New York City Human Resources Administration; New York State Office of Temporary and Disability Assistance
NOTE: Public assistance and Supplemental Security Income recipients may also receive food stamps.

Prepared by Paul Lopatto
New York City Independent Budget Office

New York City By The Numbers IBO Homepage

New York City Independent Budget Office