New York needs your support right now on the passage or sponsorship of three very important bills to force developers to develop vacant and underutilized land, or sell it to someone who will - ending urban blight and providing affordable housing. New Yorkers cannot wait any longer!
City Council Bills 693 and 694, and State Assembly Bill 9371 (http://assembly.state.ny.us/leg/?default_fld=&bn=A09371&term=2007&Summary=Y - a companion bill in need of a new sponsor to already-passed Bill 6207) would provide the following for the city:
City Council Bill #693 provides for annual registration of vacant and underutilized properties and allows the city to fine property owners if they are not developing or selling their vacant or underutilized site. This would end the practice of holding valuable land out of service until the market rises.
City Council Bill #694 provides for an annual survey of vacant and underutilized properties in the five boroughs. By knowing these properties, the city will be able to reduce the incidence of speculative warehousing.
State Assembly Bill #9371 (formerly now #A05671) provides a fifth property class for vacant/underutilized sites. This allows for a higher tax on these properties. A new sponsor for this this anti-warehousing initiative is vitally needed now! Previously, Linda Rosenthal (AD-67) had been the sponsor, but the bill died in committee and needs a new sponsor.
These three bills, plus Bill #6207 (already passed) to omit the huge tax break for vacant and underutilized sites above 110th street, are only the beginning of the reform effort needed to shift the tax burden from buildings to land instead. By taxing land, and not improvements (e.g. buildings), we will encourage appropriate development in dense urban areas like New York City. For more information, see The Manhattan Institute or here http://www.commongroundnyc.org.
Common Ground NYC is a not-for-profit advocacy group that seeks to Return Taxes to the Ground, where they belong. Rights to the Products of Earth for All, and Rights to the Products of Labor for Each. Tax what you Burn, not what you Earn.
City Council Bills 693, 694 & State Assembly Bill 9371
Dear
New York needs your support right now on the passage or sponsorship of three very important bills to force developers to develop vacant and underutilized land, or sell it to someone who will - ending urban blight and providing affordable housing. New Yorkers cannot wait any longer!
<br>
<br>
City Council Bills 693 and 694, and State Assembly Bill 9371 (formerly #A05671 - a companion bill in need of a new sponsor to already-passed Bill 6207) would provide the following for the city:
<br>
<br>
City Council Bill #693 provides for annual registration of vacant and underutilized properties and allows the city to fine property owners if they are not developing or selling their vacant or underutilized site. This would end the practice of holding valuable land out of service until the market rises.
<br>
<br>
City Council Bill #694 provides for an annual survey of vacant and underutilized properties in the five boroughs. By knowing these properties, the city will be able to reduce the incidence of speculative warehousing.
<br>
<br>
State Assembly Bill #9371 (formerly now #A05671) provides a fifth property class for vacant/underutilized sites. This allows for a higher tax on these properties. A new sponsor for this anti-warehousing initiative is vitally needed now! Previously, Linda Rosenthal (AD-67) had been the sponsor, but the bill died in committee and needs a new sponsor.
<br>
<br>
These three bills, plus Bill #6207 (already passed) to omit the huge tax break for vacant and underutilized sites above 110th street, are only the beginning of the reform effort needed to shift the tax burden from buildings to land instead. By taxing land, and not improvements (e.g. buildings), we will encourage appropriate development in dense urban areas like New York City. For more information, see The Manhattan Institute or here http://www.commongroundnyc.org.
<br>
<br>
Common Ground NYC is a not-for-profit advocacy group that seeks to Return Taxes to the Ground, where they belong. Rights to the Products of Earth for All, and Rights to the Products of Labor for Each. Tax what you Burn, not what you Earn.
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