NYC Property Tax Savings

Property Tax Abatements for NYC Co-op & Condo Owners

Comprehensive guide to reducing your annual tax liabilities through NYC's property tax abatement programs.

Understanding NYC Tax Abatements

New York City offers several property tax abatements and exemptions to help co-op and condo owners reduce their annual tax liabilities. Understanding these programs and their application processes can lead to significant financial savings. Below is an overview of the primary abatements available, along with direct application links and essential details.

Available Tax Abatement Programs

Co-op & Condo Property Tax Abatement

Tax Reduction17.5% to 28.1%DeadlineFebruary 15

Program extended through June 30, 2026. Filing for 2026-27 tax year is now open.

Eligibility Criteria

Unit must be your primary residence
Co-op or condo development must apply on behalf of eligible units (individual owners do not apply to the City)
You must provide your managing agent or board with proof of primary residence so they can include your unit in the annual filing; the City (DOF) determines if you qualify
Buildings with 30+ units and avg assessed value over $60k/unit must pay prevailing wages
Buildings with fewer than 30 units and avg assessed value over $100k/unit must pay prevailing wages

Application Process

Managing Agents/Boards: Submit via NYC DOF SmartFile Portal
Individual Owners: Inform management of primary residency status and provide proof so your unit is included
Prevailing Wage Affidavit required by February 15 for qualifying buildings

Apply via NYC DOF Portal

STAR Program (School Tax Relief)

Tax ReductionBasic: varies | Enhanced: varies by countyDeadlineMarch 1 for Enhanced STAR upgrade

Eligibility Criteria

Basic STAR Credit: Primary residence with income ≤ $500,000
Basic STAR Exemption: Primary residence with income ≤ $250,000
Enhanced STAR (2025-26): Age 65+ with income ≤ $107,300

Application Process

New Applicants: Apply through NY State Tax & Finance
Existing Recipients: Renewals are automatic (verify annually)

Apply for STAR Program

Senior Citizen Homeowners' Exemption (SCHE)

Tax Reduction5% to 50%DeadlineMarch 15

Eligibility Criteria

Homeowner must be 65 or older
Annual income must be $58,399 or less
Property must be primary residence

Application Process

New Applicants: Complete SCHE application with NYC DOF (online or mail)
Renewals: NYC DOF sends notices (renew every two years; verify status annually)

Apply for SCHE

Disabled Homeowners' Exemption (DHE)

Tax Reduction5% to 50%DeadlineMarch 15

Eligibility Criteria

Owner must have qualifying disability (proof required, e.g. SSA award letter)
Annual income must be $58,399 or less
Property must be primary residence

Application Process

New Applicants: Complete DHE application with NYC DOF (online or mail)
Renewals: Must renew every year; apply or renew by March 15 for benefit starting July 1

Apply for DHE

Veterans Property Tax Exemption

Tax ReductionVaries by serviceDeadlineMarch 15

Eligibility Criteria

Honorably discharged veterans from eligible war periods
Spouses or unremarried surviving spouses qualify
Property must be primary residence

Application Process

New Applicants: Complete Veterans Exemption application with NYC DOF
Renewals: Generally automatic (confirm annually)

Apply for Veterans Exemption

SCRIE (Senior Citizen Rent Increase Exemption)

Tax ReductionRent FreezeDeadlineOngoing

Eligibility Criteria

Age 62 or older
Head of household in rent-regulated apartment
Annual household income of $50,000 or less
Rent exceeds 1/3 of monthly income

Application Process

Apply online via DOF TAP Portal or submit paper application
Property owners can register via the SCRIE/DRIE portal

Apply for SCRIE

DRIE (Disability Rent Increase Exemption)

Tax ReductionRent FreezeDeadlineOngoing

Eligibility Criteria

Age 18 or older with qualifying disability
Head of household in rent-regulated apartment
Annual household income of $50,000 or less
Rent exceeds 1/3 of monthly income

Application Process

Apply online via DOF TAP Portal or submit paper application
Property owners can register via the SCRIE/DRIE portal

Apply for DRIE / DOF TAP Portal

Important Considerations

Primary Residence Requirement

Most abatements and exemptions require the property to be your primary residence.

Income Limits

Certain programs have income thresholds—ensure you meet these before applying.

Strict Deadlines

Applications must be submitted on time to receive benefits for the upcoming tax year.

Need Help Navigating Tax Abatements?

Our team specializes in helping NYC co-op and condo owners navigate tax abatements and exemptions. Let us assist you with the process to maximize your savings.

Last updated: January 2026. Tax programs, income limits, and deadlines are subject to change. Always verify current eligibility and filing dates with NYC Department of Finance (DOF), NY State Tax & Finance (STAR), or NYC Rent Freeze (SCRIE/DRIE).

Understanding NYC Tax Abatements

Available Tax Abatement Programs

Co-op & Condo Property Tax Abatement

Tax Reduction17.5% to 28.1%DeadlineFebruary 15

Program extended through June 30, 2026. Filing for 2026-27 tax year is now open.

Eligibility Criteria

Unit must be your primary residence
Co-op or condo development must apply on behalf of eligible units (individual owners do not apply to the City)
You must provide your managing agent or board with proof of primary residence so they can include your unit in the annual filing; the City (DOF) determines if you qualify
Buildings with 30+ units and avg assessed value over $60k/unit must pay prevailing wages
Buildings with fewer than 30 units and avg assessed value over $100k/unit must pay prevailing wages

Application Process

Managing Agents/Boards: Submit via NYC DOF SmartFile Portal
Individual Owners: Inform management of primary residency status and provide proof so your unit is included
Prevailing Wage Affidavit required by February 15 for qualifying buildings

Apply via NYC DOF Portal

STAR Program (School Tax Relief)

Tax ReductionBasic: varies | Enhanced: varies by countyDeadlineMarch 1 for Enhanced STAR upgrade

Eligibility Criteria

Basic STAR Credit: Primary residence with income ≤ $500,000
Basic STAR Exemption: Primary residence with income ≤ $250,000
Enhanced STAR (2025-26): Age 65+ with income ≤ $107,300

Application Process

New Applicants: Apply through NY State Tax & Finance
Existing Recipients: Renewals are automatic (verify annually)

Apply for STAR Program

Senior Citizen Homeowners' Exemption (SCHE)

Tax Reduction5% to 50%DeadlineMarch 15

Eligibility Criteria

Homeowner must be 65 or older
Annual income must be $58,399 or less
Property must be primary residence

Application Process

New Applicants: Complete SCHE application with NYC DOF (online or mail)
Renewals: NYC DOF sends notices (renew every two years; verify status annually)

Apply for SCHE

Disabled Homeowners' Exemption (DHE)

Tax Reduction5% to 50%DeadlineMarch 15

Eligibility Criteria

Owner must have qualifying disability (proof required, e.g. SSA award letter)
Annual income must be $58,399 or less
Property must be primary residence

Application Process

New Applicants: Complete DHE application with NYC DOF (online or mail)
Renewals: Must renew every year; apply or renew by March 15 for benefit starting July 1

Apply for DHE

Veterans Property Tax Exemption

Tax ReductionVaries by serviceDeadlineMarch 15

Eligibility Criteria

Honorably discharged veterans from eligible war periods
Spouses or unremarried surviving spouses qualify
Property must be primary residence

Application Process

New Applicants: Complete Veterans Exemption application with NYC DOF
Renewals: Generally automatic (confirm annually)

Apply for Veterans Exemption

SCRIE (Senior Citizen Rent Increase Exemption)

Tax ReductionRent FreezeDeadlineOngoing

Eligibility Criteria

Age 62 or older
Head of household in rent-regulated apartment
Annual household income of $50,000 or less
Rent exceeds 1/3 of monthly income

Application Process

Apply online via DOF TAP Portal or submit paper application
Property owners can register via the SCRIE/DRIE portal

Apply for SCRIE

DRIE (Disability Rent Increase Exemption)

Tax ReductionRent FreezeDeadlineOngoing

Eligibility Criteria

Age 18 or older with qualifying disability
Head of household in rent-regulated apartment
Annual household income of $50,000 or less
Rent exceeds 1/3 of monthly income

Application Process

Apply online via DOF TAP Portal or submit paper application
Property owners can register via the SCRIE/DRIE portal

Apply for DRIE / DOF TAP Portal

Important Considerations

Primary Residence Requirement

Most abatements and exemptions require the property to be your primary residence.

Income Limits

Certain programs have income thresholds—ensure you meet these before applying.

Strict Deadlines

Applications must be submitted on time to receive benefits for the upcoming tax year.

Need Help Navigating Tax Abatements?

Our team specializes in helping NYC co-op and condo owners navigate tax abatements and exemptions. Let us assist you with the process to maximize your savings.