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Op-Ed | It’s time to repeal the Commercial Rent Tax

March 20, 2023

The NYC Hospitality Alliance’s Andrew Rigie co-authored an op-ed with the Manhattan Chamber of Commerce and Building Owners & Managers Association New York, calling on the city to eliminate commercial rent tax on restaurants, bars, and retail shops.

Op-Ed | It’s time to repeal the Commercial Rent Tax

In 1963 New York City was cash-strapped, so government leaders enacted the Commercial Rent Tax (CRT), which required businesses to pay a surcharge that was calculated on their annual rent to help fill city coffers...

That’s why we urge New York’s elected representatives to eliminate the CRT for all retail shops and restaurants, which will only reduce the city’s total CRT collection by less than 1/5, while allowing the savings to be pumped back into the economy, creating additional economic activity, and helping local businesses stay open, employ people, and attract people back to the Big Apple’s economic core and visitor destination.