New York City Hall provides property tax breaks
City Hall employees are ready to write off taxes up to $225 thousand for owners of homes and commercial properties. The new program should primarily help property owners who are planning to open, or have already opened, a business related to child care. If a building owner plans to convert his property into a preschool center or expand an existing children's center, he may be able to receive property tax breaks.
Entrepreneurs can count on a benefit of $225 thousand. Detailed information about the program can be found here.
Applications for participation must be submitted by March 15. The New York City Mayor's Office has allocated $25 million for this program.
Author: Denis Cheredov
