421a

Eligibility
The 421a Program promotes Multi-Family Residential construction.  It provides a declining property tax exemption based on the new value created. The program is administered by the NYC Department of Housing Preservation and Development (HPD) and the Department of Finance.

The 421a benefits vary depending on factors such as location, method of construction and if requirements for affordable housing have been met.
 
HPD determines eligibility and approves the application.   Finance then administers the benefits.

For program information and eligibility, contact:
NYC Department of Housing Preservation and Development

Once approved, you will receive a Certificate of Eligibility from HPD.  This certificate and 421a application must then be sent to Finance.

You can search for a detailed listing of properties receiving the 421a partial tax exemption.  The property is listed by Borough, Block & Lot,  Neighborhood, Building Class, Tax Class, and Address.

2012/2013 421a Exempt Properties (Descriptive Data as of Tent. Roll FY 12/13) (Building Class Data as of Tent. Roll FY 12/12)	Adobe PDF	MS Excel
Manhattan	680k	3.72M
Bronx	148k	1.42M
Brooklyn	971k	5.21M
Queens	528k	2.82M
Staten Island	20k	973k

Forms, Publications and FAQs
Forms & Publications

Related Information
Exemptions and Abatements for Residential Property


Contact Information
For questions about 421a application status
Email 421a Application Status