New York City Mayor calls for end to Madison Square Garden tax break

29 Comments

If New York City Mayor Bill de Blasio had his way, Madison Square Garden would no longer receive its $16 million annual property tax break, according to the New York Daily News.

“We can’t ask the taxpayers to look the other way while a very well-endowed corporation, a profitable corporation, receives a tax cut for a piece of land that is among the most valuable on earth,” he argued during a legislative budget hearing.

The Madison Square Garden Company owns MSG, along with the New York Rangers, NBA New York Knicks, and other properties.

As a condition of the tax break, the Rangers can’t play a home game outside of their arena, which is why they were listed as the visiting team when they faced the New Jersey Devils at Yankee Stadium on Sunday. When the Stadium Series continues on Wednesday, the Rangers will again be the visitors against the Islanders.

de Blasio’s position is opposed by both Governor Andrew Cuomo and Republic State Senate Leader Dean Skelos.