The Co-op Tax Benefit Letter is an annual letter we send to each cooperative board or managing agent outlining each unit’s tax savings for personal exemptions and the co-op property tax abatement. This list is typically mailed in December. If there are changes throughout the year, a new letter is generated.
For more information read about the Cooperative and Condominium Tax Abatement.
Requirement for Co-ops to Notify Finance About Changes
Co-op boards are legally required to report changes or discrepancies in ownership or eligibility for the 2014/15 tax year to Finance by February 16, 2015. Changes must be reported using the Co-op Tax Benefit Change Form.
Instructions: The Co-op Tax Benefit Change Form is available as an Excel (.xls) spreadsheet using the following steps:
- Open Microsoft Excel before you open the application spreadsheet.
- Click on the application spreadsheet and choose "Open" Note: If a security warning pops up choose Enable Macros and continue.
- Print out and complete Section A: Attestation.
- Complete all unit updates in Section B: Updates tab of the file and save. All updates must be as of January 5, 2014. Do not report later changes at this point.
- Print the spreadsheet and send it with the signed attestation page to:
New York City Department of Finance
Homeowner Exemptions - Co-Op/Condo Unit
59 Maiden Lane, 24th Floor
New York, NY 10038
Send an email to email@example.com with the Coop Number in the Subject Line and the following attachments:
1. A scan of the completed and signed Section A: Attestation
2. A password-protected version of the spreadsheet file with a
completed Section B: Updates
Send a second email to firstname.lastname@example.org with the Coop Number in the Subject Line and the password to the spreadsheet file in the message area.
Forms and Reports
- Contact 311 or Contact Us
Note for Property Owners: You may also be eligible to receive the following personal exemptions: Basic or Enhanced School Tax Relief (STAR), Disabled Homeowner, Senior Citizen Homeowner and Veterans. The application for these exemptions must be postmarked by March 15. If you own a co-op, contact your management company to find out what exemptions you are receiving in in the current tax year (July to June). Call before March so that you will still have time to apply for benefits in the next tax year. If you own a condo, you can find your current exemptions on your Property Tax Bill.