Wouldn’t it have been nice to have gotten in on the New York City Housing program back in the 70’s?
The program was started to encourage new construction and it has enabled huge reductions in property taxes on certain buildings in Manhattan.
The savings continue and will likely continue into next year. Several people have benefited from these tax reductions including designer Calvin Klein who saved 134,000 on his penthouse; Yankee shortstop Derek Jeter who saves 130,000 per year on his $4 million Trump World Tower Apartment; and finally actress natalie Portman who has saved 26,300 each year on her 5.8 million condo.
