With mortgage rates rising alongside inflation, tax abatements are an incentive for New York City condo buyers. An active 421-a tax abatement is a great selling point right now for the new developments that have one...
Tag - Tax Exemptions
NYC residential tax abatements: all you need to know (421-a, J-51)
New York City offers several different tax abatements to building developers that can lower condominium units’ property taxes for a set number of years. Their goal is usually to incentivize development in certain...
421-g Tax Incentive: Lower Manhattan’s Residential Conversion Program
The 421-g Tax Incentive was an NYC tax incentive program that offered both exemptions and abatements to building owners that converted commercial buildings to residential in downtown Manhattan. The program...
NYC property taxes: all you need to know
For New Yorkers who own real estate, understanding the deluge of NYC property taxes can be crippling, whether you’re looking to buy, sell, or maintain a property. From explaining the different tax classes to...
