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Is it required by the D.O.F. that monthly maintenance statements outline each unit’s tax savings for personal exemptions and the co-op property tax abatement.
Our co-op lumps them together and refuses to list them separately.
Thanks, sounds like a plan!
I agree with Marty's response. You might be able to go on the Dept of Finance's website for more information, or to find out who to contact for more information.
In my building, we issue the abatements during a single month along with a corresponding assessment to recover the funds we won't receive due to the abatements. Each abatement (Real Estate, STAR, Veteran, etc) is individually noted on the invoice as a credit against that month's maintenance, and the amount of the assessment is noted as a debit against the maintenance.
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I don't know if it's required by the DOF, but my co-op breaks it down on the maintenance statement.
I've never heard of it NOT being broken down individually.
The DOF does break it down separately when they send the list to your management group. There's no reason why it shouldn't be broken down on your maintenance statement.
I'd recommend trying to get as many shareholders to sign one letter that insists on a maintenance statement breakdown, and then send a copy to your Board and your management company.
Good luck.
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