J-51 Exemption and Abatement
Number of APIs: 2
J-51 is a property tax exemption and abatement for renovating a residential apartment building or conversion to multiple dwellings. J-51 is a property tax exemption and abatement for renovating a residential apartment building. The benefit varies depending on the building’s location and the type of improvement. The NYC Department of Housing Preservation and Development (HPD) determines the eligibility for the program. Finance administers the benefit. Once approved you must complete and submit Finance’s J-51 Property Tax Exemption and Abatement Application. You need to include the certificate of Eligibility from HPD with your application.J-51 is a property tax exemption and abatement for renovating a residential apartment building or conversion to multiple dwellings. J-51 is a property tax exemption and abatement for renovating a residential apartment building. The benefit varies depending on the building’s location and the type of improvement. The NYC Department of Housing Preservation and Development (HPD) determines the eligibility for the program. Finance administers the benefit. Once approved you must complete and submit Finance’s J-51 Property Tax Exemption and Abatement Application. You need to include the certificate of Eligibility from HPD with your application.