NYC Denied Attempt to Require Foreign Missions to the UN to Pay Real Estate Taxes

New York City has been denied by the U.S. Department of State in its attempts to make foreign missions to the United Nations pay taxes on property they own in New York.  Missions, like 501 C-3 non-profits, are exempt from paying real estate taxes when the own their space, including office condominiums.  However, missions and non-profits have to pay an above a base year on real estate taxes if they rent.  This tax exemption is one of the many reasons why it is so compelling for organizations to own their office space.