Coop Property Tax Abatement Question
Started by apt5
over 8 years ago
Posts: 1
Member since: Jan 2015
Discussion about
Hello, I have a question regarding property tax abatements and assessments against them. I am a first time coop owner and understand it's common practice to offset the abatements through assessments. However, I am having a difficult time finding out the exact timelines for when one qualifies for the property tax abatement. My understanding is that the property tax abatement is for the tax year... [more]
Hello, I have a question regarding property tax abatements and assessments against them. I am a first time coop owner and understand it's common practice to offset the abatements through assessments. However, I am having a difficult time finding out the exact timelines for when one qualifies for the property tax abatement. My understanding is that the property tax abatement is for the tax year between July of the prior calendar year and June of the current calendar year. So the 2017/2018 property tax abatement change form covers July 2016 - June 2017 and must be submitted by February 15, 2017. Is that correct? Some quick details: I closed on June 5th of 2016 and this is my primary residence since. In August of 2017 I received an assessment for 2 years of property tax abatements (2 months worth of maintenance). I did not receive any abatements The managing agent explained to me that even though the abatement is for the time period between 2016-2017, the city used data from Jan 5 2015 to Jan 5 2016 to grant those abatements. On the surface this seems off to me. Can anyone help confirm? The board also did not get around to approving an assessment for the 2015-2016 period when I was not an owner there - they are assessing for a 2 year period to catch up. Should the prior owner be responsible for this? My attorney did not bring any of this to my attention. Thanks, [less]
2015-2016 is prior owner's responsibility. The board needs to collect it from them.