Condo property taxes and abatements question
Started by KennyZ
over 10 years ago
Posts: 4
Member since: Apr 2015
Discussion about
I am comparing the current tax bills on two very similar condos in Manhattan. One has it's taxable assessed value reduced due to code 1017-01 "SCHOOL TAX RELIEF" by about 7 percent. Then it has an abatement "Co-op Condo Abatement" of about 17 percent. The other condo has neither. As far as I can tell the assessment reduction is the STAR abatement and the Co-op condo abatement is for primary residents (with some other restrictions). Is this correct and would it mean that a new owner in either condo would be eligible for the same abatements and reductions? It looks like the primary resident Condo Co-op abatement takes about a year to go through (file by March for summer effect) - is there any way to get it sooner or retroactively?
This might help:
https://a836-propertyportal.nyc.gov/
You must apply because the city doesn't carry it forward to the new resident. In a co-op, the Board will usually credit you with your tax break on your maintenance bill. HOWEVER, the city will automatically give you a surcharge for being a non-resident.
I just received an extra charge on my maintenance for $1,700 for non-residency despite living solely in my new apartment for 1.5 years. The managing agent said he filed an appeal on my behalf showing that I already received the STAR credit.