Cooperative and Condominium Property Tax Abatement

The development must be a tax class 2 property.

The development cannot be receiving the J-51 exemption or the 420c, 421a, 421b, or 421g commercial tax benefits. However, you can apply if these benefits are due to expire on June 30 of the tax year in which you are applying.

Properties associated with any of the following are not eligible:

• Housing development fund corporations (HDFC)
• Limited-dividend housing companies
• Redevelopment companies
• Mitchell-Lama buildings
• Division of Alternative Management Programs (DAMP)
• Urban Development Action Area Program (UDAAP)

If the development is not currently receiving the abatement, the board or managing agent can apply by submitting the Cooperative Property Tax Abatement Initial Application or Condominium Property Tax Abatement Initial Application. (These applications will be available soon.)

The unit may be eligible for the abatement if:

• The unit is the owner’s primary residence.
• The owners do not own more than three residential units in any one development.
• The owner has filed a real property transfer tax form or deed with the Division of Land Records at www.nyc.gov/acris. (This requirement applies to condominiums. The filing is generally done at the time of purchase, often by a title company or attorney on the owner’s behalf.)
• The owner is not receiving the clergy property tax exemption.
• The unit is not owned by a business, such as an LLC, or held by a sponsor or their successors in interest. (There are limited exceptions for LLC ownership and limited partnership ownership due to security concerns. More information is available on the Cooperative/Condominium Abatement Security Waiver Application form.)

The owner must have purchased the unit on or before January 5 to qualify for the abatement for the upcoming tax year, which begins on July 1. Those who purchase their units after January 5 can apply for the following tax year. If the unit is owned by a trust, it must be the primary residence of the trustee, all of the trust’s beneficiaries, or the life estate holder.

The amount unit owners can save with the abatement depends on the average assessed value of the residential units in the co-op or condo development:

Average Assessed Value	Benefit Amount Per Year
$50,000 or less	28.1%
$50,001 - $55,000	25.2%
$55,001 - $60,000	22.5%
$60,001 and above	17.5%

The co-op or condo’s board or managing agents are responsible for applying for the abatement on behalf of the entire development. The unit owner must certify that the unit is their primary residence to the board or managing agent, who then must attest to the primary residency of unit owners.

If the development is not currently receiving the abatement, the board or managing agent can apply by submitting the Cooperative Property Tax Abatement Initial Application or Condominium Property Tax Abatement Initial Application.

The board or managing agent must submit an initial application if the development has never received the abatement, or if you previously received it but later opted out.

The development may also be required to submit a prevailing wage affidavit, as described in the section below.

Managing agents and boards are responsible for renewing the abatement each year—not individual unit owners.

For fast, easy processing, submit the renewal online. For instructions on how to file, please review the Co-op/Condo Abatement Online Filing User Guide.

For the 2026-27 tax year, the following are now available:

• Co-op/condo managing agents profile page - Required for first-time filers and for making updates to existing managing agent records.
• Condominium initial and renewal application - Use this form to apply for the first time or to renew for an entire condo development.
• Cooperative renewal application - Use this form to renew an existing co-op abatement.
• Cooperative initial application - Use this form to apply for the cooperative abatement for the first time.

Each December, the Department of Finance sends managing agents and boards a letter outlining each unit’s tax savings. The agent or board must use this information to report to DOF any changes in ownership or eligibility.

To verify primary residency, you must submit documents such as:

1. Valid New York driver’s license
2. NYC voter registration
3. Managing agent attestation

Certain properties must submit a prevailing wage affidavit to qualify for the Cooperative and Condominium Property Tax Abatement. The filing period ends on February 15.

An authorized agent or officer should submit the prevailing wage affidavit online. (The online affidavit will be available soon.) Before submitting the affidavit, check to make sure that your development is on the list of developments that are required to file.

Your development will be required to file if:

• The property has 30 or more residential units and the average assessed value per unit is over $60,000, or
• The property has fewer than 30 residential units and the average assessed value per unit is over $100,000.

To calculate the average unit assessed value, multiply the total assessed value by the residential percentage (based on shares or common interest), then divide by the number of residential units.

The list of developments required to file is updated each January, following the release of the tentative property tax roll. We will notify you if changes to the development’s assessed value, such as those resulting from Tax Commission actions, should affect whether you are required to file the prevailing wage affidavit.

If a property is required to file a prevailing wage affidavit, but no longer wishes to receive the co-op/condo abatement, the building representative should complete the Co-op/Condo Tax Abatement Benefit Opt-Out Form, which will be available soon.

If you have opted out of the abatement in the past, the development must file an initial application to reapply.

The Managing Agent and Self-Managed Authorization Form can be used to allow managing agents or officers to represent a building to file applications and other relevant materials pertaining to unit owners’ eligibility for the Cooperative and Condominium Property Tax Abatement.

• Cooperative/Condominium Abatement Denial Dispute Form — PDF version
• Cooperative/Condominium Abatement Security Waiver Application — PDF version
• Application to Remove Previously Granted Exemption(s)
• Application to Remove Previously Granted Exemption(s) — PDF version
• Application to Remove Previously Granted Exemption(s) for Co-op Units
• Property Exemptions Trust & Life Estate Certification Form — PDF version

1. Applying for the abatement:

How do I apply or renew the co-op/condo abatement?
Managing agents or boards are responsible for submitting the abatement application on behalf of the development. Applications can be filed online through SmartFile (preferred) or by mailing completed paper forms to the Department of Finance. The deadline is February 15 each year. If February 15 falls on a weekend or holiday, the deadline is extended to the next business day.

What is SmartFile, and why should I use it to apply for the co-op/condo abatement?
SmartFile is the Department of Finance’s secure online platform for submitting abatement applications, affidavits, and supporting documents. Using SmartFile ensures faster intake, fewer errors, and more efficient processing of your application. Managing agents, self-managed boards, and authorized representatives are requested to use SmartFile whenever possible. Only one filing per development is required each year. If an update is needed, you can resubmit before the deadline.

How do I create a SmartFile account?
You must have an NYC.ID account to access SmartFile. NYC.ID is the City’s secure, single sign-on system. After creating and verifying your NYC.ID, you can log in to SmartFile and begin your application. You will receive a confirmation email once your account is active.

Can I still submit a paper application?
If you are unable to apply online, you may submit a paper application by mail. Be sure to include all required supporting documents. While paper applications are accepted, SmartFile is the preferred method because it provides faster processing and confirmation of receipt.

Can I edit or resubmit an application in SmartFile?
Yes. In SmartFile, you can edit your application while it is in progress and resubmit an updated version before the February 15 deadline. If more than one application is submitted, DOF will process only the most recent version. This flexibility allows you to correct errors or provide additional documentation without penalty, as long as it is done before the deadline.

2. Primary residency:

What is required for primary residency verification?
Managing agents and boards must collect primary residency information from all unit owners or shareholders and submit it as part of their abatement application each year. While agents and boards are no longer required to certify the accuracy of this information, they are required to maintain it in their records. The Department of Finance will contact unit owners directly if additional residency verification is needed.

3. Prevailing wage affidavit:

Which developments must file a prevailing wage affidavit?
Certain developments must file a prevailing wage affidavit to remain eligible for the co-op/condo abatement. The requirement applies if:

• The development has 30 or more units and an average unit assessed value above $60,000, or
• The development has fewer than 30 units and an average unit assessed value above $100,000.

The list of required filers is updated each January after the release of the tentative property tax roll. Developments will be notified if their status changes because of adjustments to their assessed values.

Who is authorized to sign the affidavit?
The affidavit must be signed by an officer of the cooperative or condominium, or by an authorized agent. A managing agent may sign if the board has formally authorized them to act on behalf of the development. The required authorization form is available from DOF.

What if my development has no building service employees?
Even if your development does not employ building service workers, you must still complete and submit the affidavit. SmartFile allows you to indicate that no service employees are employed. This ensures that your development remains in compliance with the filing requirement.

What happens if the affidavit is not submitted?
If your development is required to submit a prevailing wage affidavit and does not, the entire development will lose the abatement for that tax year. There is no exception process. To regain eligibility in future years, the development would need to reapply and submit the affidavit by the deadline.

What if the board decides to opt out of the affidavit requirement?
Opting out means that the development will not receive the abatement for that tax year. To regain eligibility after opting out, the development would need to reapply in a future year and submit an initial application with the required affidavit. Even developments with no service employees must either submit the affidavit or formally opt out.

4. SmartFile filing details:

Which documents may need to be uploaded to SmartFile?
The documents required to apply for the co-op/condo abatement depend on the development’s circumstances. Common supporting documents include:

• Primary residency certifications from unit owners
• Prevailing wage affidavit
• Agent authorization forms
• Development contracts, for properties newly added to the program
• Trust or life estate certification forms, if applicable

What if a unit is owned by a trust?
If a unit is held in trust, the managing agent must ensure that the unit owner completes a Property Exemptions Trust & Life Estate Certification Form. This form verifies the existence of the trust and the trustee’s authority. It must be uploaded through SmartFile as part of the application.

How will I know my submission was received?
You will receive a confirmation email after submitting your application. In addition, you can log in to your SmartFile account at any time to review the status of your submission and confirm that all required documents have been received.

Which file formats and sizes are accepted in SmartFile?
PDF is the preferred format. Other accepted formats include .doc, .docx, .xls, .xlsx, and .ppt. All files must be clear, legible, and properly labeled. The maximum file size allowed is 40 MB. Submissions that exceed this limit will not be accepted by the system.

Can I make updates after the February 15 deadline?
The co-op/condo abatement application period opens each year in the fall. Updates and resubmissions must be completed before the February 15 deadline. After that date, applications are final for the tax year and cannot be changed. If information is missing or the affidavit is not submitted on time, the development will lose its abatement for that year.

5. Assistance:

Who can I contact for help with the abatement process?
Resources are available to assist you with filing:

• Review the Co-op/Condo Abatement Online Filing User Guide.
• Submit questions through the Department of Finance’s online contact form.
• Call 311 for additional information or assistance.