Property owners face 421-a suspension for failure to submit Final Certificates of Eligibility. On March 9, 2018, Housing Preservation and Development Commissioner Maria Torres-Springer and Department of Finance Commissioner Jacques Jiha announced the suspension of 421-a benefits to more than 1,700 property owners. The decision to suspend benefits is part of the Housing Preservation and Development and Department of Finance’s initiative to ensure that properties comply with the 421-a application rules. Currently, there is a … <Read More>
Search Results for: 421-a Tax Exemption
City Officials Agree to Tougher 421-a Enforcement
The City Council, Public Advocate and administration officials agree that new measures should be taken to ensure 421-a compliance, proposed legislation is a good start. On November 22, 2016, the City Council’s Committee on Housing and Buildings and Committee on Finance held a joint hearing on the City’s enforcement of 421-a requirements. The meeting also served as a public hearing for three proposed bills to strengthen enforcement efforts.