Skip Navigation

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.
Response by semerun
over 16 years ago
Posts: 571
Member since: Feb 2008

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).

Ignored comment. Unhide
Response by lajeep405
over 16 years ago
Posts: 124
Member since: Jul 2007

semerun, Did you get a refund for the months you paid the actual amount? or is that money credited toward future abated amounts?

Ignored comment. Unhide
Response by semerun
over 16 years ago
Posts: 571
Member since: Feb 2008

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.

Ignored comment. Unhide
Response by 30yrs_RE_20_in_REO
over 16 years ago
Posts: 9881
Member since: Mar 2009

Dept of Finance. Tax assessor's office.

Ignored comment. Unhide

Add Your Comment