NYC DOF Certification of Continuing Use Deadline January 5, 2024 for NFP Exemption, ICIP Exemption & ICAP Abatement

by | Nov 21, 2023 | Industry Updates

NFP, ICIP, & ICAP Renewals If you own or lease a NYC property that is currently receiving one of the following property tax benefits, please note that the NYC Department of Finance (DOF) renewal filing period has begun, and the online renewal portal is now open for: Not-For-Profit (NFP) tax exemption; Industrial and Commercial Incentive Program (ICIP) exemption benefits; and Industrial and Commercial Abatement Program (ICAP) abatement benefits. If your property is not receiving an NFP or ICIP exemption, ICAP abatement, or has a pending application for any of these benefits, no action is required at this time. If your property was granted an ICAP abatement benefit after July 1 of the prior calendar year, you do not need to renew at this time. If you require assistance preparing or filing a Certificate of Continuing Use (CCU) for your property’s benefit, please contact your R&E attorney or Daniel M. Bernstein, Member and Head of Rosenberg & Estis’ Tax Incentives & Affordable Housing Department. The deadline for filing a CCU is January 5, 2024.

DOF has begun sending letters notifying NFP exemption recipients that the benefit must be renewed and notifying ICIP and ICAP benefit recipients that the CCU must be filed by January 5, 2024 for the upcoming 2024/2025 fiscal tax year. These letters contain an “Entity ID,” which is used in DOF’s online application for electronic form submission. As of May 5, 2019, you must use an NYC.ID account to access DOF’s SmartFile online filing system. If you previously registered for SmartFile, use the same e-mail address to create your new NYC.ID account. If you do not have an NYC.ID, you will need to create one in order to file, which can be done at this link.

The NFP exemption renewal for 2024/2025 can be accessed directly at this link.
The ICIP Certificate of Continuing Use renewal for 2024/2025 can be accessed directly at this link.

The ICAP Certificate of Continuing Use renewal for 2024/2025 can be accessed directly at this link. If you did not receive a notification letter from DOF or you are unable to access your online renewal, please contact [email protected] for further assistance. The Entity ID may also be found by BBL within the online filing system. NFP and ICIP exemption benefit renewals must be made annually, while ICAP abatement benefit renewals are made every other year (biennially). Therefore, the current ICAP abatement benefit renewal may impact eligibility for benefits for the 2024/2025 and 2025/2026 fiscal tax years. The purpose of these online renewals is to provide DOF with certain information relating to the property in order to confirm that the property continues to be used for eligible purposes. Please note that each renewal is specific to a single tax lot; if the property receiving such benefits is comprised of more than one tax lot, separate renewals must be filed for each tax lot. Similarly, where a property is structured as a condominium, separate renewals must be filed for each condominium tax lot that is receiving benefits, and your responses in the renewal should be specific to such condominium tax lot, not the entire building.

Failure to timely submit your online benefit renewal by January 5, 2024 may result in the suspension of such tax benefits.

If you have any questions, please feel free to contact your trusted Rosenberg & Estis, P.C. attorney, or Daniel M. Bernstein, who authored the above.