Audit Finds NYC Gives Tax Breaks to the Dead
New York City has been giving tax breaks to the dead, failing to collect $59.2 million in tax revenue over a period of six years, according to an audit announced Thursday.
Comptroller Scott Stringer found that tax breaks intended for senior citizen homeowners continued to be applied to 3,246 properties long after the intended recipient had died. The Department of Finance is required to reevaluate each senior’s qualifications for the tax break every two years. The report found it had not done so for the past ten years.
The Department of Finance says it inherited the problem and is hiring additional staff to fix it.
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