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Technical explanation is too long for Twitter, but 421a, in practicality, doesn't cost the city any forgone tax revenue it shifts the cost to other Class 2 properties. Note that this isn't really how the system should work, it's mostly a result of politics and quirks.
A lot more pronounced in upstate cities with a less diverse prop tax base and where 485a leads to radical increases on class 1 props @RobGalbraithLS @JWashingtonJDU
