TAX ABATEMENTS

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 for 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?
  • Please make sure your Primary Residence designation is updated in your Client Portal. To access your Click Portal, search our Building Information page.
  • Primary Residency information is downloaded from the Client Portal on January 15th of the calendar year.
  • 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 around March

 

Important Notes:
  • Cooperatives and condominiums receiving the J51 or 421A abatement/exemptions are not qualified to receive the Cooperative Tax Abatement.

 

Documents and Forms:

If you were contacted to fill out one of the attached forms, please download the form, complete in entirety, then submit the form through our secure file server.

 

 

Submit Your Information Online:

Access Secure Online Submission

 

Questions?

Email our billing department and they will put you in touch with the Building’s Financial Analyst.

 

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 less than $500,000, you may qualify for the STAR Real Estate Tax Abatement. Benefit amount is $300 for applicants under 65 years old and $600 for applicants over 65 years old.

To see if you qualify, please review the requirements on the NYC DOF’s website.

 

How To Apply?
  • Visit the NYC DOF’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.

 

 

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 notification@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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Asset Management

New Bedford recognizes the unique concerns of the Owner/ Investor and the need to balance rapid response with cost concerns. New Bedford is able to provide you with a custom service, repair and financial plan.

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Project Management

New Bedford Management Corp provides full project management services for all types of construction and capital improvement projects.

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Contact us today by calling
212-674-6123 or email us at
info@nbmgmt.com