Manhattan Small Business Owners Say Commercial Real Estate Tax Cut Will Be Lifeline

NEW YORK (CBSNewYork) — A long battle to save local mom and pop shops has ended in victory.

As CBS2 Political Reporter Marcia Kramer reported, Mayor Bill de Blasio and the City Council have struck a deal to reduce the commercial real estate tax for small businesses.

“Life-savin,” said Imsil Lim, owner of Vanity Fair French Cleaners & Tailors, “because we all work very hard, you know, but everything was so high that we might not be able to make it.” Lim’s cleaners is located at 27th Street and Third Avenue in Kips Bay. She said the news that the mayor and the City Council have agreed to reform and reduce the commercial rent tax is a lifeline that could help her and thousands of other neighborhood stores keep their doors open.

Read Article at CBS

Leave a Reply