New York City gives $59 million worth of tax breaks to dead people
An audit of New York City’s finances has revealed that our administration has missed out on an astounding $59 million since 2011 because of property tax exemptions given to dead elderly citizens.
Auditors analyzed a program called the Senior Citizen Homeowners’ Exemption (SCHE) at the behest of comptroller Scott Stringer, who later released the findings. SCHE reduces property taxes for homeowners over 65 who earn $37,400 or less a year. Seniors who qualify for SCHE also qualify for the Enhanced School Tax Relief (STAR) Exemption, which exempts the first $62,200 of a homes value of a from school taxes.
Every two years The Department of Finance is meant to check whether homeowners are still eligible to receive the break, but went 10 years without verifying the home owners were alive and qualified. He went on to tell the NYPost, “Believe it or not, there’s still more,” said. “What we see as we peel the onion back is we are getting closer to $100 million.”
Mayor de Blasio said the problem will be fixed and predates his administration.
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