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How to Estimate Taxes in Absence of 421a

Started by bluerain
over 18 years ago
Posts: 47
Member since: Feb 2008
Discussion about
Hi All, I am considering buying a condo w/ a 421a tax abatement, but I'm wondering what the tax load would be for a place without that load. Anyone out there a tax expert? BTW, its a 2br in Kew Gardens, built in the last 10 years.
Response by ladidadi123
over 18 years ago
Posts: 30
Member since: Feb 2008

The offering plan should contain the 'mature' current tax amount. If you dont have the offering plan, the agent should definitely be able to look it up in the offering plan.

The place I am looking at is in sunnyside and the abated tax is around $80 with the mature/unabated tax around $370. Not sure how much different forest hills would be.

Keep in mind that with the new constructions, the abatement is applied for after building is occupied so plan on paying the full amount to start with. Only if the application goes through will you start seeing the abated amount.

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