421-a and J51 Building Owners Failing to Register Apartments as Rent Stabilized

ProPublica, a nonprofit with a focus on investigative journalism, recently conducted an analysis of government data on nearly 15,000 rental buildings receiving the 421-a and J51 tax subsidies as of 2013. About 40 percent—or 5,500 buildings—weren’t listed as rent stabilized, yet records show the owners are receiving more than $100 million in property tax reductions.