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.

2010/2011 421a Exempt Properties (Descriptive Data as of Final Roll FY 10/11) (Building Class Data as of Final Roll FY 10/11)	Adobe PDF	MS Excel
Manhattan	598k	3.76M
Bronx	122k	1.28M
Brooklyn	796k	4.45M
Queens	375k	2.24M
Staten Island	18k	901k

Forms & Publications

421a Partial Tax Exemption for New Multiple Dwellings Application
Download Form (32k)

Contact Information

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