Partial tax abatement for residential real property held in the cooperative or condominium form of ownership

Proposed Rules: Closed to Comments

Agency:
Comment By: 
Tuesday, January 29, 2019
Download Copy of Proposed Rule (.pdf): 

STATEMENT OF BASIS AND PURPOSE

The purpose of this proposed rule amendment is to allow for a waiver of the current requirement that in order to be eligible for a partial tax abatement of real property taxes for qualifying property held in the cooperative or condominium form of ownership, the qualifying property must be owned by an individual. This requirement will be waived if the apartment or its shares are owned by a LLC, or LP and the applicant demonstrates that there are security concerns that necessitate ownership by such an entity.

Public Hearing
Subject: 

Partial tax abatement for residential real property held in the cooperative or condominium form of ownership

Public Hearing Date: 
Tuesday, January 29, 2019 - 11:00am
Contact: 

• Website. You can submit comments to the Department of Finance through the NYC rules website: http://rules.cityofnewyork.us.

• Email. You can email written comments to laroset@finance.nyc.gov.

• Mail. You can mail written comments to NYC Department of Finance, Legal Affairs Division, 345 Adams Street, 3rd Floor, Brooklyn, N.Y. 11201, Attn: Timothy LaRose.

• Fax. You can fax written comments to NYC Department of Finance, Attn: Timothy LaRose, at (718) 488-2491.

Location: 
The Department of Finance
345 Adams Street, 3rd Floor
Brooklyn, NY 11201