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Sunday, February 27, 2011

A-Rod Uses Loophole to Pay $1,200 Property Tax on $6 Million Condo

Rushmore From the New York Daily News:

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.

http://taxprof.typepad.com/taxprof_blog/2011/02/a-rod-to-.html

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Comments

But he's still only won one World Series.

Posted by: mike livingston | Feb 27, 2011 7:32:03 AM

When Cameron Diaz is your girlfriend, you need to stretch every dollar to afford her.

Posted by: Woody | Feb 27, 2011 12:20:28 PM

Is it really a "loophole" when he -- and others -- are benefiting from a program intended for their benefit?

Posted by: Jeffrey Barry | Feb 28, 2011 8:24:35 AM