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DWELLINGS DATE STAMP Mail to: NYC Department of Finance, 421a - Commercial Exemption Unit, P.O. Box 3120 Church Street Station, New York, NY 10008-3120. SECTION I - S I T E I N F O R M AT I O N 1. Borough: Block: Lot(s): 2. Site Address: City, State and Zip Code:.

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421-a (17) Affordable Housing New York Program Rent at least 20% of the units to households whose income does not exceed 100% of AMI (and whose average income does not exceed 80% of AMI) and. Rent at least 5% of the units to households whose income does not exceed 130% of AMI.

In order to see the type of 421a tax abatement, you need to pull up the most recent property tax bill (also on the left). At the bottom of the tax bill, you will see a line for the abatement as well as its duration, 25 years in this case.

The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City.

The 421a(16) Affordable Housing Exemption program is a partial tax exemption available for new buildings constructed throughout the five boroughs. In order to qualify the abatement, a rental project must allocate 25-30% of the units to Affordable Housing in ance with one of the affordable options listed below.

Under the Affordable Housing New York Program, certain homeownership projects are eligible for a 100% real estate tax exemption for up to three years during the construction period, with an additional 20-year exemption thereafter. For the first 14 years, projects will be eligible for a 100% exemption.

421a tax abatement benefits The key 421a tax abatement benefit in NYC is the reduction in property taxes you owe for the term of the program. The longer the term of the abatement (i.e. 10 years vs. 25 years), the larger the savings you receive during your period of ownership.

Under the Affordable Housing New York Program, certain homeownership projects are eligible for a 100% real estate tax exemption for up to three years during the construction period, with an additional 20-year exemption thereafter. For the first 14 years, projects will be eligible for a 100% exemption.

The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City.

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232