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Coop/condo tax abatement to end?Dec 26, 2020

Our coop says they have heard from someone in the know in Albany there is little support for this annual abatement and it will probably be terminated in its entirety within the next year or two.

I doubt this.

Has anyone else heard this?

Join the Conversation Comments (1)
Coop/condo tax abatement to end? - Steven424 Dec 26, 2020

I hear it almost every year... <chuckling> Perhaps this article will put your mind at ease https://www1.nyc.gov/site/finance/benefits/landlords-coop-condo.page

What I believe is ending this year is the 421-A Tax Abatement. This is completely separate from the Real Estate Tax Abatement you're asking about and was given to new developments under certain conditions.

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