The World, and Everything in it: Billionaires Get 'Low-Income' Tax ...

Billionaires Get 'Low-Income' Tax Breaks in Condo Tower - Yahoo! Finance

?The view from One57.But they may also get a less publicized benefit: tax breaks of more than $150,000 a year from a program aimed at low-income housing.
According to financial documents obtained by CNBC, One57 may receive a tax abatement under a long-existing city program designed to provide more low-income housing. The program, known as 421-a, gives developers tax breaks for 10 to 20 years, which are then passed on to buyers. At One57, those savings may be substantial.

Source: http://wwwtheworldandeverythinginit.blogspot.com/2012/10/billionaires-get-low-income-tax-breaks.html

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