New York City Coop and Condo Abatements and more
If you live in New York City and own a cooperative apartment and you live in your apartment you may qualify for the Coop and Condo Abatement.
Go to https://tax.tidalforce.org/abatement1.html#pay1
Now there is a tool to approximate what your Coop Abatement credit should be. Of course, this may depend on your number of shares and the total number of shares in the cooperative that qualify for the abatement. But the application just assumes equal shares for all qualifying apartments. You can easily scale the number based on your particular cooperative share values. We recommend you read this document from New York City Department of Finance If you want to see other buildings, https://tax.tidalforce.org/abatement1.html#pay1 will help you compare to other buildings.
Let's take a real example:
Let's say you live at "215 EAST 74TH STREET". This is a cooperative building. You will see something like:
See https://nycprop.nyc.gov/nycproperty/StatementSearch?bbl=1014290005&stmtDate=20170602&stmtType=SOA
Go to https://tax.tidalforce.org/abatement1.html#pay1
Now there is a tool to approximate what your Coop Abatement credit should be. Of course, this may depend on your number of shares and the total number of shares in the cooperative that qualify for the abatement. But the application just assumes equal shares for all qualifying apartments. You can easily scale the number based on your particular cooperative share values. We recommend you read this document from New York City Department of Finance If you want to see other buildings, https://tax.tidalforce.org/abatement1.html#pay1 will help you compare to other buildings.
Let's take a real example:
Buy $10 Exemption/Abatement Report for 215 EAST 74 STREET MANHATTAN 1014290005
You will select the "Buy link" and it will generate a report that summarizes the abatement and exemption history for the given address for the information that is available.
This is assuming equal shares in the cooperative. But let's give a more realistic example, this cooperative has 105 apartments that qualify for the coop abatement and it receives $219,338 in abatements for 6/2/2017 bill. See
Most Recent Exemption/Abatement Report | Tax History Report for input: BBL: 1014290005 Notes: Assuming equal shares in coop (coop only) and particular apartment is owner occupied should receive coop/condo abatement credit of $2088 for 2017-06-02 most recent year where information is available | Basic STAR found
Amount: $10 just now, generating report, can take a minute or so Payment complete.
See https://nycprop.nyc.gov/nycproperty/StatementSearch?bbl=1014290005&stmtDate=20170602&stmtType=SOA
Let's say you really own 10 shares and the total of the 105 qualifying apartments is 2000 shares, then you would take 10 / 2000 * 219,338 to get your actual credit of $1096.69
This is a starting point to get owners aware of the credit. We will enhance the application to store the owners shares and building shares to give a more accurate credit value in the future.
A full report would look like this:
Full
Let's say you live at "322 W 57th St" . This is a condominium building. It is simpler because the abatement is already broken down by apartment.
You will input the address and see:
For example let's say you live at Apt 18H
You will select the appropriate buy link.
You will see
A report will look like:
Most Recent Report
Abatements
Exemptions
Full
bbl | activitythrough | section | key | value | valuestr | meta | metastr | apts | aptsstr |
---|---|---|---|---|---|---|---|---|---|
Let's say you live at "322 W 57th St" . This is a condominium building. It is simpler because the abatement is already broken down by apartment.
You will input the address and see:
tax billing lot (e.g., condo) Buy $10 Exemption/Abatement Report for 322 WEST 57 STREET MANHATTAN 1010477503Buy $10 Exemption/Abatement Report for 322 WEST 57 STREET 41P1 [1010472396]Buy $10 Exemption/Abatement Report for 322 WEST 57 STREET 18H [1010472050]Buy $10 Exemption/Abatement Report for 322 WEST 57 STREET 34Q1 [1010472309]
For example let's say you live at Apt 18H
You will select the appropriate buy link.
You will see
Most Recent Exemption/Abatement Report | Tax History Report for input: BBL: 1010472050 Notes: Assuming equal shares in coop (coop only) and particular apartment is owner occupied should receive coop/condo abatement credit of $1832 for 2017-06-02 most recent year where information is available | Basic STAR Exemption not found
Amount: $10 just now, generating report, can take a minute or so Payment complete.
A report will look like:
Most Recent Report
Abatements
bbl | activitythrough | section | key | value | valuestr | meta | metastr | apts | aptsstr |
---|---|---|---|---|---|---|---|---|---|
Exemptions
bbl | activitythrough | section | key | value | valuestr | meta | metastr | apts | aptsstr |
---|
Full
bbl | activitythrough | section | key | value | valuestr | meta | metastr | apts | aptsstr |
---|---|---|---|---|---|---|---|---|---|
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