New York City's Article XI Real Property Tax Exemption Program: Providing Attractive Real Property Tax Benefits for Multi-family Properties
By EsqSocial Corporation 27/04/21
Key Points - - The Housing Preservation Opportunities Program (the Program) offers attractive real property tax exemptions for multi-family projects located in New York City, including those that may be experiencing economic difficulty or that have existing real property tax benefits soon expiring (such as existing 421(a) or J51 tax benefits). - The Program offers a 40-year real property tax exemption that sets real property taxes on residential portions of multifamily properties at a...
By: Katten Muchin Rosenman LLP