Tax Abatement, NYC: What Unit Owners And Shareholders Need To Know

In preparation for the 2018/2019 Cooperative/Condominium Property Tax Abatement* filing, all unit owners and shareholders received a letter from FirstService Residential requiring confirmation of primary residency status. 
 

What You Need to Do:

1. In order for FirstService Residential to complete the filing on behalf of your coop/condo, we are asking you to confirm your residency status on an annual basis.
 
2. Log in to the online portal using the unique verification code contained in your letter.
 
3. Information for your apartment is prepopulated. You must complete all remaining blank fields.
 
4. You must respond either online or by submitting the paper form by Friday, December 15, 2017.
 

Reminders:

• To be eligible for the abatement, at least one of the owners of record must use the apartment as a primary residence.
 
• Apartments owned by a trust are eligible only if the apartment is the primary residence of at least one of the beneficiaries of the trust, trustee or life estate holder.
 
• Apartments owned by other than natural persons or trusts (e.g., limited liability companies or corporations) are not eligible for the abatement, regardless of primary residence status.
 
• While FirstService Residential will file forms for all owners who respond by the December 15th deadline, this does not ensure that any owner will receive the abatement.
 
• The NYC Department of Finance makes the ultimate determination of who is eligible for the abatement.
 
If you have a question that is not answered on our Frequently Asked Questions page or need your verification code, our Customer Care Center will be happy to assist you: 212.634.8911.
 
*The abatement does not apply to Mitchell Lamas, rentals, and buildings with a tax exemption (421a, 421g, J51).