The deadline to submit your prevailing wage affidavit has been extended to May 3, 2022.
To submit your prevailing wage affidavit:
Click here to read more about the prevailing wage affidavit requirement.
The New York City Department of Finance has adopted a rule amendment of the Real Property Tax Abatement for Cooperative or Condominium Dwelling Units. For more information click here.
Owners of cooperative units and condominiums who meet the requirements for the Cooperative and Condominium Property Tax Abatement can have their property taxes reduced. The amount of the abatement is based on the average assessed value of the residential units in the development.
Abatement percentages are as follows:
Average Assessed Value | Benefit Amount Per Year |
$50,000 or less | 28.1% |
$50,001 - $55,000 | 25.2% |
$55,001 - $60,000 | 22.5% |
$60,001 and above | 17.5% |
Managing agents and boards of directors must apply for and renew the cooperative and condominium property tax abatement on behalf of their entire development.
The fastest and simplest way to apply for abatements or submit information changes is via the Cooperative/Condominium Abatement Portal (CCAP) or you may mail a paper form.
Cooperative/Condominium Abatement Portal (CCAP) Training VideoA training video is available to help you use the Cooperative/Condominium Abatement Portal. The training includes instructions for establishing and providing access to company administrators, which is essential for portfolio management. |
The deadline to file your Cooperative/Condominium Property Tax Abatement Renewal and Change Form was February 15, 2022.
Chapter 422 of the NYS Laws of 2021 amends Section 467-a of the Real Property Tax Law as follows:
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