Property Tax Lien Sale Program Extended by City Council

The City’s Lien Sale Program has been extended another four years with some minor modifications. A lien is a legal claim against a property for unpaid property taxes, water, sewer or other property charges. When the property owner has been delinquent for a specified period of time, the City is allowed to sell the liens to an authorized third party. The new purchaser then has the authority to collect the money that was previously owed … <Read More>


City Developer Denied Tax Abatement

Court found that application was not filed within the statutory time period of one year. On January 27, 2016, the New York State Supreme Court denied a Brooklyn developer’s petition to reverse a Department of Finance decision to not grant a tax abatement. The Developer, 96 Wythe Acquisitions, filed the petition after the Department of Finance denied the application for the tax abatement because it was not filed within the mandatory one-year requirement. 96 Wythe … <Read More>


HPD Proposes to Implement Extension of Existing 421-a Affordable Housing Tax Abatement Program

HPD brought charges of tenant harassment against an Aimco-owned building in the Upper West Side. Image credit: HPD

The “421-a Extended Affordability Program Rules” would provide a 10 to 15 year extension to eligible buildings enrolled in the program prior to its expiration. On March 14, 2016, the Department of Housing Preservation and Development proposed two agency rules to extend the 421-a real property tax exemption program for those who already had been benefiting from the program prior to its expiration in June 2015. The State authorized HPD to promulgate the new rules … <Read More>


Nonprofit’s Parking Facilities Ruled Subject to Property Tax

Court of Appeals reversed decision of Appellate Division recognizing a tax exemption.  In 2011, the Department of Finance revoked a property tax exemption granted for five public parking facilities owned by the nonprofit Greater Jamaica Development Corporation and its LLC, Jamaica First Parking.  The exemption, granted in 2007 pursuant to RPTL §420-a in recognition of Greater Jamaica’s mission to spur development and growth in the downtown Jamaica area, was revoked on the grounds that operating … <Read More>


Manhattan Developer Pays $4.7 Million in Tax Evasion Settlement

Attorney General Schneiderman found the developer was operating a building as an illegal hotel while receiving a 421-a property tax exemption. On February 26, 2015 New York State Attorney-General Eric Schneiderman announced reaching a settlement with 47 East 34th Street LP over illegally evading New York property taxes. The LP owns an apartment building at 47 East 34th Street in Manhattan which is exempt from property tax under the 421-a program, however the Attorney General’s … <Read More>