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Thanks, RLM, but as you'll note in my response to Harvey, payment of taxes in condos is NOT done by the corporation, but by the individual apartment owners. The owners do, however, typically grant the Board [via the By-Laws] the power to hire counsel & pursue tax certiorari appeals on behalf of the collective owners.
While it may, indeed, be tempting for an Association to apply refunds toward capital projects, doing so would amount to an allocation by ownership shares...which probably won't be in proportion to the way the taxes were paid.
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I misread this as a co-op....
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