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How do you handle current and new Coop Tax Abatements?Jun 04, 2013

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.

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