The amount of your benefit depends on your unit’s average assessed value.

Unit Owners

Individual unit owners can’t apply for the co-op or condo abatement directly. If you are a co-op shareholder or condo unit owner, you should tell your board or managing agent if the unit is your primary residence so that you can receive the abatement. Once the development has submitted the application, you can contact their management office for information.

If you live in a building that doesn’t have a board, managing agent, or association, or if your building doesn’t get the annual condo co-op breakdown letter, contact the Department of Finance (DOF) for assistance.

Contact DOF.

Managing Agents or Boards

Co-op or condo developments that are applying for the abatement for the first time must complete the Co-op and Condo Property Tax Abatement Application. They must provide information about each unit and indicate whether the unit is the owner’s primary residence.

If the development already receives the abatement and the eligibility or the ownership of a unit has changed, the development must report those changes to the Department of Finance (DOF) so the owner of the unit can start receiving the benefit.

Building management applying for the abatement for the building for the first time can get a copy of the application online or by mail.

The management company or board of directors is legally required to renew the property tax abatements for all units in the building by February 15 every year. You can contact your management company or board of directors to confirm that they have renewed your abatement.

If they haven’t done so previously, management and boards must also notify the Department of Finance (DOF) about changes to the eligibility or ownership of the units. If you're a member or representative of a management company or board, it's recommended that you renew and report changes electronically, but if you’re unable to file online, you can mail a paper application.

If you are a member of the board of directors, managing agent, or other official representative of a co-op or condo building, you are responsible for keeping the Department of Finance updated about the ownership and eligibility of units in your development.

You must report changes to:

• Apply for the abatement for new owners
• Remove the abatement from any sold units no longer being used as an owner's primary residence
• Correct ownership mistakes
• Correct errors in the annual co-op benefit letter sent by DOF

2020-2021 Tax Year

The deadline for building managers and boards to apply for or renew the benefit is February 24, 2020.

• Eligible buildings with applications postmarked on or before February 24, 2020 will start receiving their benefits on July 1, 2020.
• Eligible buildings with applications postmarked after February 24, 2020 will start receiving their benefits on July 1, 2021.

2019-2020 Tax Year

The deadline for building managers and boards to apply for or renew the benefit was February 15, 2019.

• Eligible buildings with applications postmarked on or before February 15, 2019 will start receiving their benefits on July 1, 2019.
• Eligible buildings with applications postmarked after February 15, 2019 will start receiving their benefits on July 1, 2020.

Co-op Owners

If you own a co-op, your co-op’s managing agent, or board of directors gets the property tax bill for the entire building. You can contact them for payment and exemption information for your apartment.

You can contact the Department of Finance to request a printout with exemption and abatement information for your apartment.

Contact DOF.

Co-op and condo unit owners may receive a notice from Department of Finance (DOF) asking you to certify that the unit is your primary residence. Make sure you certify your eligibility by returning the completed form to DOF within 30 days to avoid a disruption in your benefit.

Even if an owner is eligible for the abatement, that owner must have purchased the apartment on or before January 5 to be credited with the abatement starting the following July.

Eligible owners will be credited with the abatement starting July 1 if:

• They purchased their co-op or condo on or before January 5, OR
• The board submitted their names by the February 15th deadline.

Eligibility for the co-op and condo abatement is based on the unit's status on January 5th. If a co-op or condo property was recently purchased after the taxable status date of January 5, the abatement will remain on the property until the current tax year ends.

For example, for a unit purchased on February 15 and used as a primary residence, the new owner will not receive the abatement until the following tax year, starting July 1, if the prior owner was not using the unit as a primary residence on January 5.

The change in ownership must be recorded with the City. The co-op board, managing agent, or condo association is responsible for providing the Department of Finance with the new owner information.

If you live in a building that doesn’t have a board, managing, agent, or association, or if your building doesn’t get the annual co-op/condo breakdown letter, contact the Department of Finance for assistance.

Contact DOF.

You can get answers to questions about the Co-op and Condo Abatement and help with:

• Applications and filing
• Renewing and reporting
• Abatement denials and revocations