Saturday, February 26, 2011
Yankees star Alex Rodriguez will pay virtually no property tax for a $6 million apartment he is buying on the upper West Side. Rodriguez will be billed around $1,200 this year in real estate tax for his 3,000-square-foot, five-bedroom penthouse with spectacular views of the Hudson River. Over the next 10 years Rodriguez and his fellow residents will continue to receive huge discounts on their tax, a city housing official said. For Rodriguez, a full tax bill would be at least $60,000 annually, the latest city assessment records show.
- ABC New York, A-Rod Gets Grand Slam Tax Break on New Condo
- CBS New York, A-Rod Gets Steal of a Deal Thanks to NYC Tax Loophole; Star to Pay 50 Times Less Than Going Rate for West Side Digs
- Daily Mail, Outrage as A-Rod 'Exploits' Tax Loophole on $6m NYC Apartment
- Gothamist, A-Rod's Big, Fat, Upper West Side Condo Tax Break