This benefit is a reduction taken off the amount of rent subject to the Commercial Rent Tax.
Non-profit companies and businesses whose annual leases are under $200,000 do not pay Commercial Rent Tax (also known as an "Occupancy Tax") and are not eligible for the CRT Special Reduction.
Enhanced Reduction for Leases that started between July 1, 2005 through June 30, 2013
Note: the Enhanced Special Reduction Program was not extended for leases beginning after June 30, 2013. Until the Enhanced Reduction is extended, tenants are only entitled to the Special Reduction if they qualify for the Basic Reduction discussed below.
Basic Reduction For Leases Which Do Not Qualify for Enhanced Reduction
The Special Reduction is an optional incentive program that requires the tenant and the landlord to apply together. Both must apply for the special reduction benefit to be granted.
Application and Additional Information
All tenants must apply for the Commercial Revitalization Program (CRP) even if they are applying for the CRT Special Reduction only.
Government Owned Buildings - Tenants do not have to meet CRP improvement and related lease requirements to obtain the CRT Special Reduction.
Non-Government Owned Building - To receive the CRT Special Reduction, Tenants must either: a) apply for and receive the CRP tax abatement; or b) for the Enhanced Special Reduction only: meet the CRP improvement and related lease requirements in a building that is not eligible for CRP.
CRT Special Reduction Required Forms
Forms & Reports