RPTL Section 421-a Subscribe to RSS - RPTL Section 421-a

Adopted Rules: Closed to Comments

Adopted Rules Content: 

HPD’s rule amendments implement the Affordable New York Housing Program adopted by the State Legislature in Chapter 20 of the Laws of 2015 and amended by Chapter 59 of the Laws of 2017. The Affordable New York Housing Program provides a tax exemption similar to the prior Real Property Tax Law Section 421-a exemption, but for buildings that commence construction after December 31, 2015.

Effective Date: 
Thu, 10/26/2017

Proposed Rules: Closed to Comments

Comment By: 
Monday, May 29, 2017
Proposed Rules Content: 

The proposed rule amendment would give HPD retroactive authority to exempt projects that already have 421-a Preliminary Certificates of Eligibility and are receiving 421-a benefits from the application filing deadline for 421-a Final Certificates of Eligibility.



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