Articles on 421a Tax Abatement

NYC Tax Abatement Secure in 2012

New York City Tax Abatements are secure in 2012Condo and co-op owners can breathe easy; the 17.5 percent abatement on real estate taxes will still be coming their way this year. While it seemed as though the tax reduction was in danger of expiring a few months ago, city officials have decided to keep the abatement in the budget for the 2012 fiscal year. However, this could change in years to come, as the future of tax breaks for Manhattan apartment owners could face alterations.

New Yorkers: Take a Shot at Lowering Your Property Taxes

shotThe WSJ presents a walkthrough on lowering your property taxes here: Using the Rout in Housing to Lower Taxes

“I did the whole thing online and walked [my application] down to the mailbox, and a month and a half later, I learned I saved all that money,” says Ms. Davidson, a 44-year-old account manager for a business consulting firm, who purchased the home last year. “It was incredible.”