To the Citizens Budget Commission, the controversial property tax break called 421-a for developers of new rental buildings, including affordable apartments, is essential to increase the city’s too-small housing supply.

“Allowing 421-a to lapse would significantly reduce rental housing development, worsen the city’s existing housing supply shortage and make New York City’s already scarce and costly rental housing scarcer and more expensive,” the CBC said in a report titled “Amend it, Don’t End It” issued Wednesday.

To City Comptroller Brad Lander, the program is a waste.

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