Co-op/Condo Tax Abatement Deadline Approaching Fast

DEPM has submitted to the NYC Dept. of Finance information on all new unit purchases that occurred in 2016 through January 5, 2017 for our co-ops and qualifying (ie: non-421a) condos. Now is the opportunity for any unit owner whose resident status has changed to primary and currently meets the requirements for the tax abatement program to update their status.
If you feel that your unit should have received the abatement in 2016 but did not, please contact your Account Executive in writing, phone or email as soon as possible and we can submit the corrected information on your behalf. The deadline for making changes to your apartment status for the 2016/17 benefits is February 15, 2017 and for 2017/18 benefits the deadline is March 31, 2017. Please visit the City’s website at nyc.gov/ccabatements for more comprehensive details on this program.
In addition, there have been some changes in the STAR abatement program. New applicants who qualify for Basic or Enhanced STAR should now register with New York State instead of applying with the NYC Dept. of Finance and will receive their STAR credit in the form of a check rather than a property tax abatement.The STAR hotline number is 518-457-2036. Or visit the City’s STAR info page at on.nyc.gov/2k9MmJZ

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