Tax dodge the $tuff of Legend
John Legend decries his federal income-tax cut -- but he's OK with the massive tax break New York City is giving him.
The singer told the White House press corps Thursday night that he and other millionaires don't need tax breaks.
But the "Ordinary People" singer saved over $50,000 last year in property taxes on his swank Bowery condo, thanks to a little-known city abatement program.
The "421-a program" -- created in the 1970s to aid a stalled housing market while also generating new affordable housing -- allows Legend and other rich and famous denizens to save hundreds of thousands of dollars over as long as 25 years.
The 421-a incentive program has been set to expire several times since its inception -- but city and state lawmakers keep renewing it.
