1 Response

  1. Lee Winson says:

    In the 1950s, property taxes were a major burden on the commuter railroads.

    The Pennsylvania Railroad was paying $1,000,000 in property taxes on Penn Station alone in the 1950s. That tax burden was a contributing factor in the railroad’s decision to demolish the headhouse and build other things in its place. Likewise, the tax burden was a factor in the New York Central’s decision to have the Pan Am building built at Grand Central.

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