Introduction to NYC Property Tax Incentives for Affordable Housing
Wednesday, November 20, 2024 | 9:00 am – 10:00 am
Format: In-Person
Property tax incentives are an essential tool for NYC affordable housing development. Without incentives, NYC multifamily properties can expect to pay as much as 30% of gross rents as property taxes.
In this CLE program, Daniel M. Bernstein will discuss the following major as-of-right and discretionary property tax incentives used for the development of affordable housing in NYC:
- New NYS Real Property Tax Law (“RPTL”) sections 467-m and 485-x as well as under existing RPTL sections 420-c and 421-a(16); and,
- Private Housing Finance Law Article XI and Payment in Lieu of Taxes or “PILOT” agreements
We are two months away and this is a CLE program you will not want to miss.
