Stay in Compliance for Condo/Coop Abatement
If you recently received a letter from us requesting information, please see the Coop and Condominium Abatement section below, and read the “Submit Your Information Online” section.
Please see the most common tax abatements below. Many primary resident shareholders and owners will qualify for the Coop/Condo Abatement; however, there are some restrictions.
Please reference the Department of Finance’s website for qualifications.
The majority of primary resident shareholders and owners will qualify for the STAR abatement. The STAR abatement is applied directly by the resident.
We encourage all eligible shareholders and owners to apply.
Please see the information below on the best contact method if there are any questions.
Coop and Condominium Abatement
If you are a primary resident of a cooperative or condominium in NYC, you may qualify for the Cooperative Real Estate Tax Abatement. Benefit amount is dependent on the unit’s tax assessment amount.
To see if you qualify, please review the requirements on the NYC DOF’s website.
How To Apply?
You can submit your information online, via upload, or by mail. Submission options are outlined below.
Management must receive your information by January 31st to ensure proper submission. Due to delays with USPS, online submission or courier delivery is recommended.
Important Notes:
- Cooperatives and condominiums receiving the J51 or 421A abatement/exemptions are not qualified to receive the Cooperative Tax Abatement.
- The DOF validates primary residency by referencing addresses on Local Tax Filings, DMV records, and other government records.
- Management submits updated information to the DOF annually in mid-February
Submit Your Information Online:
This is the recommended submission option.
You will be asked for the unit information, shareholder/owner residency status and social security number. For coop shareholders, the form has a section to upload a digital stock certificate.
Access Secure Online Submission
Documents and Forms:
If you want to upload or mail your information, please download the forms below and complete them in their entirety. The documents can be uploaded to our secure file server or mailed to the address below.
Documents must be received by January 31st to ensure proper filing.
Mail forms to:
Abatement Processing
New Bedford Management
210 East 23rd Street 5th Floor
New York, NY 10010
Questions?
Email abatements@nbmgmt.com or call 646-453-5278.
Property Information
Contact Information
STAR (School Tax Relief)
If you are a primary resident of a cooperative or condominium in NYC and have a combined household income of less than $500,000, you may qualify for the STAR Real Estate Tax Abatement. The benefit amount is around $300 for applicants under 65 years old and roughly $600 for applicants over 65 years old.
To see if you qualify, please review the requirements on the NYS STAR’s website.
How To Apply?
- Visit the NYS STAR’s website to obtain any applications and submission requirements.
Important Notes:
- Cooperatives and condominiums receiving the 421A abatement/exemption are not qualified to receive STAR.
Questions?
Contact 311 for additional information.
Management does not submit STAR applications.
Property Information
Contact Information
Other Real Estate Tax Credits
You can review the other real estate tax credits by visiting the Department of Finance’s Benefits for Property Owners website.
- Disabled Homeowners Exemption (DHE)
- Senior Citizen Homeowners Exemption (SCHE)
- Veterans Exemption
- Please visit the DOF’s website to view additional exemptions
How To Apply?
- Visit the NYC DOF’s website to obtain any applications and submission requirements.
Questions?
Contact 311 for additional information.
Management does not submit other abatement applications.
Property Information
Contact Information
When and How Do I Receive My Tax Credits?
Cooperatives
Cooperative apartment owners will receive a credit on their monthly billing.
Typically these credits are applied around July, however, depending
on the issuing of the NYC DOF’s Benefit Letter, the credits might be delayed.
Condominiums
Condominium apartment owners receive their tax credits directly on their personal real estate tax bill.
Please review your tax bill as credits may appear in different quarters.
To lookup your tax benefits, please visit the Property Tax Benefit Information page.
Questions?
Give us a call at 646-453-5278 or
email abatements@nbmgmt.com
Co-op & Condo Management
Representing Cooperatives and Condominiums for over 25 years, New Bedford recognizes the unique concerns of the homeowner community and its elected representatives, the Board of directors.
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