Cooperative and Condominium Tax Phase Outs

Phase Outs for Owners Currently Receiving the Abatement
If you are an owner who is not using the unit as your primary residence and you received the abatement in 2011/2012, your abatement will be phased out. We mailed you a letter explaining that we think you no longer qualify for the abatement. As the deadline to respond to the letter has been extended, responses must be mailed by July 22, 2013 and sent to:

NYC Co-op/Condo Abatement
P.O. Box 1194
Maplewood, NJ 07040

This is how the phase out will work:

Tax Year

Phase Out Abatement Amount

How You or Your Co-op Board Will See This on  Your Bill

2012/2013

50% of the 2011/2012 abatement percentage you received before the abatement was amended.

You or your board will see an Abatement Reversal Charge on your 2013/2014 Property Tax Bills.
2013/2014

25% of the 2011/2012 abatement percentage you received before the abatement was amended.

You or your board will see a reduced abatement amount on your 2013/2014 property tax bills starting with your July 2013 bill
2014/2015

0%
                                         

Abatement will no longer appear on your property tax bill.



For more information on Cooperative and Condominium Tax Abatement