New York's Cooperative and Condominium Community
Hello
I'm just wondering how you plan to handle the newly extended coop tax abatement. As you know, the DoF is not what I call a very accurate organisation.
My questions:
1- Do you actively monitor who gets those tax credits? (as an example, a resident in their thirties in my building was suddenly given senior credits which we tried to block but keeps coming back)
2-Do you "transfer" those tax credits in one month? or spread them over a little to reduce the impact on income (is it legal?)
3-Now that those taxe credits will gradually be phased out, to owner occupied units only (primary tax return address) - what can we do with units occupied by a relative, estates, vacant units etc ... Many will be hurt by this.
Thanks for posting your thoughts and ideas.
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Habitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
Got elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!