Harlem Rep. Charles Rangel took a "homestead" tax break on a Washington, DC, house for years while simultaneously occupying multiple rent-stabilized apartments in New York City, possibly violating laws and regulations in both cases.Is this tax fraud?
The situation raises a number of potential problems for the congressman, including:
* New York City law requires that tenants use rent-stabilized apartments as their primary residence.
* DC's real Property Homestead Deduction Act also requires that a property receiving the benefit be a primary residence.
* Tax lawyers told The Post that a property owner cannot have two primary residences - or take advantages provided to primary residences at two different addresses simultaneously.
Sunday, November 23, 2008
Rangel Scandal Watch:The Double Home Deal
The New York Post reports: