building officially granted 421-a tax abatement?
Started by PPark
over 16 years ago
Posts: 12
Member since: Oct 2008
Discussion about
Does anyone know if there is an easy way to verify if a new development has officially been granted 421-a real estate tax abatement? Thanks in advance.
In my building we had to pay the full tax amount until the 421-a abatement went into effect- which was the first fiscal quarter end that the building was occupied (i.e. people started moving in late January, and by April my bank adjusted the escrow amount to reflect the abatement).
semerun, Did you get a refund for the months you paid the actual amount? or is that money credited toward future abated amounts?
The city only collected the abated amount- the difference was held in escrow and the bank sent me a check since my escrow account was dramatically overfunded.
Dept of Finance. Tax assessor's office.