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STATE AND LOCAL NEWS THAT MATTERS

Teachers Unions Nab Tax Breaks While Demanding Tax Increases

New York Post

The United Federation of Teachers has cashed in on millions of dollars in sweetheart tax abatements on properties it owns in New York City, all while the union advocates for higher property taxes for everybody else.

The powerful union has secured more than $17 million in savings from property-tax abatements and other credits on its two Financial District buildings, an analysis of public records by The Post shows.

These have included multiple Industrial & Commercial Incentive Program breaks, lease abatements from the city, commercial expansion tax credits and more.

In 2002 the UFT sold off its longtime headquarters on Park Avenue South and purchased a 340,000-square-foot building at 50 Broadway.

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