Tax Credits and Incentives

• *Important COVID-19 Updates* and About Tax IncentivesLearn about important COVID-19 updates and the agency's tax incentives for investments that benefit the public.
• Low Income Housing Tax Credits (LIHTC)Tax credits for new construction or rehab projects with low-income set-asides.
• 420-aComplete tax exemption for HDFC-owned housing with on-site social services.
• 420-cComplete or partial tax exemption for low-income housing developed with tax credits.
• 421-aPartial tax exemption for new multiple dwellings
• 421-bPartial tax exemption for new construction or substantial rehabilitation or owner-occupied one- and two-family homes.
• 421-gTax exemption and abatement for conversion of commercial buildings to multiple dwellings in downtown Manhattan.
• 467-m *NEW*Affordable Housing from Commercial Conversions - partial tax exemption for affordable housing in new multiple dwellings created from commercial conversions.
• 485-x *NEW*Affordable Neighborhoods for New Yorkers - partial tax exemption for affordable housing created in new multiple dwellings.
• Article XITax exemption for HDFC-owned new construction or rehabilitation.
• J-51As-of-right tax exemption and abatement for residential rehabilitation or conversion to multiple dwellings.
• J-51 Reform *NEW* As-of-right tax abatement for residential rehabilitation of multiple dwellings.
• UDAAPTax exemption for rehabilitation or new construction of housing in UDAAP areas.