On March 27, 2024, the Department of Finance released a new application status tool for property owners to check the status of their property tax benefit applications. The lookup tool, at www.nyc.gov/exemptionstatus, will also allow New Yorkers to request more information if their applications are incomplete.
Search Results for: Tax Exemption
CityLaw: Three Policy Questions for Nonprofit Property Tax Exemptions
A long-standing feature of American tax policy is the exemption granted to nonprofit organizations, the largest of which is the exemption from local property taxes. The exemption, with origins back to the 18th century, is widespread. Among the 50 states, 17 state constitutions mandate property tax exemptions for charitable organizations, 25 authorize the legislature to give exemptions, and eight do not address the issue. New York State establishes two classes of exemptions for nonprofits: … <Read More>
City Council Approves Tax Exemption to Preserve Affordable Housing
Dean Atlantic HDFC received property tax exemption for seven buildings. On August 21, 2014, the City Council voted 47-0 to approve an Article XI property tax exemption on seven buildings owned by the Dean Atlantic Housing Development Finance Corporation. The Department of Housing Preservation and Development requested the exemption from the City Council on Dean Atlantic’s behalf. The buildings are all in Brooklyn Community Board 16, covering the Ocean Hill and Brownsville communities. Six … <Read More>
Fresh Direct granted generous tax exemption package
IDA approved $81 million in incentives to assist Fresh Direct relocation to the Bronx. On February 14, 2012, the City’s Industrial Development Agency approved financial incentives of approximately $81 million to assist Fresh Direct in relocating its headquarters and operations center from Long Island City to the Mott Haven section of the Bronx. Fresh Direct, an Internet grocery delivery service, sought assistance to build a 500,000 sq.ft. distribution facility and separate parking and maintenance facilities. … <Read More>
Two new Bronx grocery stores win tax exemptions
IDA approved $8.6 million in real estate and tax benefits for the first two supermarkets under the recently-created FRESH program. On February 9, 2010, the New York City Industrial Development Agency, a component of the City’s Economic Development Corporation, approved tax incentive packages to assist in the development of two new Bronx supermarkets. The financial incentives are the first awarded under the City’s Fresh Retail Expansion to Support Health (FRESH) program approved by … <Read More>
Council considers tax exemption for green roofs
Resolution would call on Albany to create green roof tax incentive. The City Council’s Finance Committee heard public testimony on November 29, 2007 on a resolution that would request the State Legislature to amend the New York State Real Property Tax Law and establish a tax exemption incentive for property-owners to equip their buildings with green roofs.
The resolution, sponsored by Council Member Oliver G. Koppell, seeks to encourage the use of green roofs in … <Read More>