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KELLNER WANTS A CO-OP & CONDO TAX ABATEMENT

The Co-op and Condo Tax Abatement

Many condo and co-op owners on the Upper East Side, Yorkville and Roosevelt Island have been able to remain in the city due - in large part - to a property tax abatement making it affordable. The tax abatement expired this year and, unfortunately, the legislature ended its session without an agreement to extend it for co-op and condo owners. Those who are worried about receiving a higher tax bill next month have nothing to fear. The New York City’s Department of Finance will send out estimated tax bills as if the abatement is still in place. When the legislature reconvenes in January, our first priority is the vote to reauthorize the program retroactively. It is important to me to continue to fight to keep this abatement in place so that New York’s co-op and condo owners will not be priced out of their homes.

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