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A small start for corporate tax revolt...
http://longisland.news12.com/news/valley-stream-mayor-ed-fare-calls-for-state-to-probe-green-acres-mall-tax-break-1.12691751(Link may not work for nonsubscribers)
VALLEY STREAM - Valley Stream Mayor Ed Fare is calling on New York state Comptroller Thomas DiNapoli to investigate the massive tax break received by the Green Acres Mall.
As News 12 has reported, the tax breaks were approved by the Town of Hempstead Industrial Development Agency board.
The IDA approved the plan two years ago for the mall's $79 million expansion, which it says will create jobs and boost the economy. However, Valley Stream officials say the breaks left residents to make up the difference.
Lawmakers and residents say the result has been tax hikes of up to 14 percent for some residents.
The mayor wants the comptroller's office to audit Valley Stream School District 30's budgeting practices, since the mall property falls under that district's jurisdiction.
"It's a 2 percent tax cap…How could we get a 14.4 percent tax hit? How does that make any sense?" asked Fare.
<...>
As News 12 has reported, the tax breaks were approved by the Town of Hempstead Industrial Development Agency board.
The IDA approved the plan two years ago for the mall's $79 million expansion, which it says will create jobs and boost the economy. However, Valley Stream officials say the breaks left residents to make up the difference.
Lawmakers and residents say the result has been tax hikes of up to 14 percent for some residents.
The mayor wants the comptroller's office to audit Valley Stream School District 30's budgeting practices, since the mall property falls under that district's jurisdiction.
"It's a 2 percent tax cap…How could we get a 14.4 percent tax hit? How does that make any sense?" asked Fare.
<...>
