The United Federation of Teachers (UFT) has received over $17 million in tax abatements and credits for its two Financial District buildings in New York City, according to public records analyzed by The Post. These benefits included multiple Industrial & Commercial Incentive Program breaks, lease abatements from the city, commercial expansion tax credits, and more.
Since 2009, the UFT has secured no less than 129 separate tax breaks and refunds from the city Department of Finance.
These savings range from as small as $1,252.92 for a commercial expansion credit in February 2020 to as large as a jumbo ICIP $689,568 deduction in August 2009. The union has also filed at least 33 “tax certiorari” lawsuits against New York City since 2003 to have its property tax bill reduced.
However, the UFT has long advocated for higher property taxes in the five boroughs to pay teachers more. The union has called on legislators to lift a 2% cap on annual property tax increases and called for the city to raise “absurdly low real estate taxes” on out-of-state landlords to secure more education funding.
UFT honchos have argued that property taxes in the five boroughs should be higher. Additionally, Randi Weingarten, a former UFT boss who now serves as president of the American Federation of Teachers, has filed at least two lawsuits in 2014 and 2021 contesting property taxes on a $1.55 million East Hampton home she co-owns with her sister, according to East Hampton property assessment rolls.
The UFT controls both buildings under nonprofit holding companies and reaps more than $6.2 million in rent and other payments from city offices since 2010.
The Department of Education is the union’s largest city tenant. Critics argue that the sweetheart tax deals were a blatant double standard, stating that if properties like the ones owned by UFT paid their fair share, the burden wouldn’t be falling on the middle class.
»UFT receives over $17 million in tax abatements«
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