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Council of New York Cooperatives & Condominiums
Article Archive
Tax Issues


Published: December 2001

PROPERTY TAX ABATEMENTS CONTINUE

On September 7, 2001, Governor Pataki signed legislation extending property tax abatements for homeowners in New York City cooperatives and condominiums through June 30, 2004 at the rate of 25% for buildings with average assessments of $15,000 or less per unit, and 17.5% where assessments are higher. Because taxes were collected in July and October without consideration of the abatement, January and April tax bills for cooperative buildings and condominium units will be adjusted to reflect a full year of abatement. Cooperatives must distribute the current abatement to shareholders by 6/30/02 following the guidelines provided in November by the Department of Finance.

An article in the New York Times on 12/21/1 on budget cuts raised concern when it mentioned that legislation to lower taxes on cooperatives had not been passed. This does NOT refer to our abatement program, but to additional tax relief which had been proposed at the request of City Council Speaker Vallone, but was not enacted into law.

CNYC and the Action Committee for Reasonable Real Estate Taxes will continue their dozen-year crusade for a permanent program of property tax fairness for all New Yorkers and will keep members informed of progress. Your generosity over the years has helped support the efforts of the Action Committee.

 
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Events

BUILDING ENVELOPE ISSUES FOR POST WAR BUILDINGS
Tuesday, September 14, 2010
7 PM
Location to be announced

FIRST-TIME HOMEBUYER SEMINAR: MAINTAINING HOME OWNERSHIP IN CHALLENGING ECONOMIC TIMES
Tuesday, September 14, 2010
6:00 - 9:00 PM
Adam Clayton Powell, Jr.
State Office Building
163 West 125th Street, 17th Floor
Harlem CDC - Conference Room

SELF-MANAGEMENT 101 : A 3-Session Program for Small Buildings
Tuesdays, 9/21, 10/19 and 11/22, 2010
7 to 9 PM
Location to be announced

NYARM REAL ESTATE EXPO
Wednesday, September 22, 2010
8 AM to 4 PM
Hotel Pennsylvania at 7th Ave & 33rd St, NYC

HOW CO-OPS AND CONDOS CAN COMPLY WITH
NYC'S NEW GREEN BUILDING REGULATIONS
Wednesday, September 22, 2010 - 6:00 PM
Science, Industry and Business Library (SIBL)
Conference Room 018 Lower Level
188 Madison Avenue @ 34th Street

THE ASSET OVER YOUR HEAD
Wednesday, September 29, 2010
7 PM
Location to be announced

WORKSHOP FOR BUILDING TREASURERS
Thursday, October 7, 2010
7 PM
Location to be announced

INTRODUCTION TO CO-OP BOARD RESPONSIBILITIES:
An Intensive Seminar for New Directors
Wednesdays, October 20 and 27, 2010
6 - 9:30 PM
Queens Location to be announced

AN AESTHETIC MASTER PLAN FOR YOUR BUILDING
Wednesday, November 3, 2010
7 PM
Location to be announced

30th ANNUAL HOUSING CONFERENCE
Sunday, November 14, 2010
8 AM to 5:15 PM
Baruch College, Newman Vertical Campus
55 Lexington Ave., NE corner of East 24th St.

You may register for CNYC events by calling (212) 496-7400 or by completing the Registration Form. For events requiring payment, please mail a check for the appropriate amount to: CNYC, 250 West 57th Street, Suite 730, New York, NY 10107-0730. Please make checks payable to the Council of New York Cooperatives & Condominiums.

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