The amount of your benefit depends on your unit’s average assessed value of the residential units in the co-op or condo development..

Unit Owners

Individual unit owners can’t apply for the co-op or condo abatement. If you are a co-op shareholder or condo unit owner, you should tell your development if the unit is your primary residence so that it can include your unit on the development's application for the abatement.

Once the development has submitted the application, you can contact their management office for information.

DOF issues bills for the first quarter of the new tax year in early June. These bills will inform co-op developments of the total number of units receiving the abatement and the assoicated reduction in taxes.

The first quarter bills will inform individual condo owners whether they are receiving the abatement and the abatement amount for the new tax year.

Managing Agents or Boards

Co-op or condo developments that are applying for the abatement for the first time must complete the Co-Op and Condo Property Tax Abatement Application. They must provide information about each unit and collect information from unit owners regarding their primary residence.

If the development already receives the abatement and the eligibility or the ownership of a unit has changed, the development must report those changes to the Department of Finance (DOF) so the owner of the unit can start receiving the benefit.

This allows DOF to:

• Give benefits to new owners or to existing owners who now use the unit as their primary address
• Discontinue benefits to owners who have sold their units or no longer use their units as their primary residence

Developments applying for the abatement for the building for the first time are strongly encouraged to apply online using the Cooperative/Condominium Renewal or Change form for faster processing. Developments may also apply by mail.

Developments must not submit both an online and a mail application, this could cause a delay in DOF's review of the applications.

Online

Apply for the Co-op or Condo Abatement.

By Mail

The development is legally required to renew the property tax abatements for all units in the building by February 15 or the next business day every year. You can contact your management company or board of directors to confirm that they have renewed your abatement.

Developments must also notify the Department of Finance (DOF) about changes to the eligibility or ownership of the units. If you're a member or representative of a management company or board, it's recommended that you renew and report changes electronically for faster processing.

If your development lost the co-op/condo abatement for not filing the prevailing wage affidavit or if your development opted out from the abatement to avoid filing the affidavit, you may still apply for the abatement in tax year 2025/26 by submitting a renewal application with a new Prevailing Wage Affidavit applicable to the year you are renewing. 

2025-2026 Tax Year

The deadline for building managers and boards to apply for or renew the benefit is February 18, 2025. The deadline to submit the prevailing wage affidavit (for developments required to do so) is February 18, 2025.

• Eligible buildings with applications postmarked on or before February 18, 2025 will start receiving their benefits on July 1, 2025.
• Eligible buildings with applications postmarked after February 18, 2025 will start receiving their benefits on July 1, 2026.

2024-2025 Tax Year

The deadline for building managers and boards to apply for or renew the benefit was February 15, 2024. The deadline to submit the prevailing wage affidavit (for developments required to do so) was February 15, 2024.

• Eligible buildings with applications postmarked on or before February 15, 2024 will start receiving their benefits on July 1, 2024.
• Eligible buildings with applications postmarked after February 15, 2024 will start receiving their benefits on July 1, 2025.

Phone and Virtual Assistance Appointments

Phone Appointments

You can schedule an appointment online for Property Tax Exemption application assistance over the phone. Please note that individual unit owners cannot apply directly to DOF for an abatement.

You must select the Exemptions Virtual Appointments option and then in contact details notes request your appointment by phone.

Appointments can be scheduled for 2 to 30 days in advance.

You will be contacted by telephone at time of appointment.

Schedule an appointment.

Virtual Appointments

You can schedule a virtual appointment online for Property Tax Exemption application assistance.

Appointments can be scheduled for 2 to 30 days in advance.

You will be contacted by telephone at time of appointment.

Schedule an appointment.

Co-Op Owners

If you own a co-op, your development gets the property tax bill for the entire building. The first bill for the new tax year is issued in early June.

You can contact them for payment and exemption information for your apartment.

Co-Op and condo unit owners may receive a notice from Department of Finance (DOF) asking you to certify that the unit is your primary residence or to provide more information regarding primary residency. Make sure you certify your eligibility by the deadline provided in the notice to avoid a disruption in your benefit.

Online

You can submit your proof of primary residence to DOF online. You will need to upload one of the following documents:

• Your driver's license or state-issued photo identification
• The first page of your federal or state tax return
• Your 1099 tax statement
• Your voter registration card

If you do not have a DOF account you will need to create an account and log in.

Submit proof of primary residence using DOF's SmartFile online application system.

In Person

You can make an appointment to submit your proof of primary residence in person at the Manhattan Assistance Center.

Schedule an appointment.

Your development must file a prevailing wage affidavit if your property has

• 30 or more residential units and an average assessed value of more than $60,000 OR
• has fewer than 30 residential units and an average unit assessed value of more than $100,000.

The prevailing wage affidavit certifies that all building service employees currently employed or to be employed at the property receive the applicable wage for the duration of the property’s tax abatement. The affidavit is available online and should be uploaded with your co-op and condo property tax abatement application, using the Co-Op/Condo Smart File.

Failure to file the affidavit will result in the entire building being ineligible to receive the abatement. If you file an affidavit but are found to not have paid the proper prevailing wage the building could be subject to civil penalties and may be ineligible to receive the abatement.  

Learn more about prevailing wages.

Find a preliminary list of buildings required to file an affidavit.

Even if an owner is eligible for the abatement, that owner must have purchased the apartment on or before January 5 to be credited with the abatement starting the following July.

Eligible owners will be credited with the abatement starting July 1 if:

• They purchased their co-op or condo on or before January 5, OR
• The development submitted their names by the February 15th deadline.

Eligibility for the co-op and condo abatement is based on the unit's status on January 5th. If a co-op or condo property was recently purchased after the taxable status date of January 5, the abatement will remain on the property, under the previous owner's name, until the current tax year ends.

For example, for a unit purchased on February 15, 2024 and used as a primary residence, the new owner will not receive the abatement until the following tax year, starting July 1, 2025, if the prior owner was not using the unit as a primary residence on January 5.

The change in ownership must be recorded with the City. The development is responsible for providing the Department of Finance with the new owner information.

You can get answers to questions about the Co-Op and Condo Abatement and help with:

• Applications and filing
• Renewing and reporting
• Abatement denials and revocations