"Tax Abatements in New York State," GASB-77 and Making the Case for the Database of Deals, by Cassidy, M. 2018.
Governments often use tax abatements, or credits, as a tool to attract businesses. The literature on their effectiveness is mixed at best. Transparency is needed in order to determine their true effectiveness. Efforts to accurately track tax abatements have not gained traction until recently, as GAAP standards now require their reporting. This report analyzes the inaugural dataset, finds that New York State (NYS) and New York City (NYC) abate far more taxes than other states or cities. A new, more comprehensive dataset would help analysts and policy makers evaluate tax abatement effectiveness.
Subject: Economic Development