Price reduction in aisle three: Supermarkets ask NYC to rid them of commercial rent tax

Supermarket owners want the city to abolish the commercial rent tax for their industry, arguing that it is hurting their growth. The grocers are asking Mayor Bill de Blasio and the City Council to remove the tax for them, which puts a 3.9 percent surcharge on businesses below 96th Street where rents are $250,000 or higher, according to the New York Post. A total of 132 supermarkets pay the tax, and officials say it increases […]

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