Eric Adams' tax break proposals get mixed reviews from city economists

Economists believe Eric Adams’ campaign proposals to suspend real estate tax collections and offer sales tax holidays could deprive the city of much-needed revenue if they remain in their current open-ended form.

Adams’ mayoral campaign has announced three separate tax policy proposals aimed at alleviating economic pressure on hotels, small businesses, and consumers: a once-a-week sales tax holiday, a two-year suspension of the commercial rent tax, and a two-year suspension of property tax debt interest paid by hotels in default.

Adams’ baseline for his proposed commercial rent tax suspension is nebulous and appears to define eligibility only by a business’ ability to demonstrate hardship or commit to unspecified

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