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Sunset Provisions of New York Citys Industrial and Commercial Incentive Program

March 01, 2003

By Paul D. Selver and Jeremiah H. Candreva

The Industrial and Commercial Incentive Program temporarily exempts from real property tax the increase in a property’s assessed value attributable to new construction or renovation. The amount of tax exemption and the length of the exemption period is determined by the type of use (either industrial or commercial) and the location of the project site.

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