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Major Capital Improvement (MCI) Abatement
The application for the Major Capital Improvement (MCI) Abatement is now available online. This abatement will be granted for major capital improvements approved by the New York State Division of Housing and Community Renewal (DHCR) after June 15, 2015. Qualified properties will be eligible for the abatement for one tax year. Please see below for frequently asked questions. You can find additional information in the MCI guidelines or the online application’s user guide.
Frequently Asked Questions (FAQs)
The MCI abatement will be applied in the tax year beginning after the approval of the application, beginning with the 2016/17 tax year beginning on July 1, 2016.
No. The MCI abatement cannot be carried over to another tax year.
The abatement for a specific MCI increase is not renewable in subsequent years.
The MCI abatement will not reduce or offset any other tax benefit provided, calculated or approved by the New York City or New York State.
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